Arun Panchariya

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					                                              PROFILE-­‐	
  ARUN	
  PANCHARIYA	
  
	
  
Arun	
   Panchariya	
   has	
   over	
   20	
   years	
   of	
   rich	
   experience	
   in	
   entrepreneurship,	
   industry	
   and	
  
trading,	
  spanning	
  across	
  a	
  broad	
  range	
  of	
  geographic	
  locations	
  and	
  deal	
  sizes.	
  He	
  is	
  adept	
  in	
  
the	
  trading	
  of	
  direct	
  equities,	
  commodities,	
  futures,	
  derivatives	
  and	
  other	
  financial	
  and	
  money	
  
market	
   instruments.	
   He	
   offers	
   advisory	
   and	
   consulting	
   services	
   for	
   international	
   offerings	
   of	
  
Indian	
  and	
  international	
  listed	
  &	
  non-­‐listed	
  companies	
  and	
  has	
  strong	
  ties	
  with	
  debt	
  providers	
  
and	
  equity	
  sponsors.	
  
	
                                                         	
  
I	
  started	
  early…my	
  foundation	
  in	
  the	
  manufacturing	
  industry	
  helped	
  me	
  gain	
  a	
  lot	
  of	
  experience	
  
in	
  grassroots	
  businesses	
  
	
  
TEXTILE	
  AND	
  MANUFACTURING	
  
	
  
Arun	
   started	
   his	
   career	
   in	
   1992	
   at	
   a	
   proprietary	
   concern-­‐	
   Alka	
   Textile	
   Mills,	
   and	
   was	
   primarily	
  
engaged	
  in	
  the	
  business	
  of	
  manufacturing	
  and	
  trading	
  of	
  textiles,	
  and	
  marketing	
  of	
  its	
  products	
  
in	
  the	
  western	
  region	
  of	
  India.	
  	
  
	
  
In	
   1994/95,	
   Arun	
   joined	
   Alka	
   Spinners	
   Ltd.	
   (later	
   known	
   as	
   Alka	
   India	
   Ltd)	
   as	
   a	
   full-­‐time	
   director.	
  
It	
   is	
   here	
   that	
   he	
   gained	
   experience	
   in	
   the	
   manufacturing	
   of	
   100%	
   cotton	
   yarn,	
   blended	
   yarn,	
  
textile	
   and	
   spinning	
   yarn.	
   	
   He	
   also	
   learnt	
   soft	
   skills,	
   administrative	
   skills	
   and	
   corporate	
   culture	
   at	
  
Alka	
   India.	
   Incidentally,	
   Arun	
   made	
   his	
   first	
   foray	
   into	
   the	
   financial	
   services	
   during	
   this	
   period,	
  
when	
   he	
   successfully	
   handled	
   the	
   Greenfield	
   project	
   IPO	
   of	
   the	
   company.	
   Being	
   a	
   whole	
   time	
  
director,	
  Arun	
  personally	
  designed	
  the	
  fund	
  raising	
  program,	
  and	
  in	
  the	
  process	
  learnt	
  in	
  detail	
  
about	
  working	
  capital,	
  term	
  loans,	
  commercial	
  loans	
  and	
  the	
  underlying	
  processes	
  for	
  the	
  same.	
  	
  
	
  
	
  
Arun	
  joined	
  Panchariya	
  Gin	
  Pvt.	
  Ltd.	
  in	
  1998,	
  where	
  he	
  learnt	
  all	
  about	
  the	
  ginning	
  industry.	
  	
  
	
  
Dealing	
   with	
   suppliers	
   (farmers)	
   buying	
   cotton,	
   interacting	
   with	
   distributors,	
   wholesalers	
   and	
  
traders	
  built	
  my	
  negotiation	
  strengths	
  and	
  more	
  importantly,	
  I	
  learnt	
  how	
  to	
  deal	
  with	
  different	
  
kinds	
  of	
  people.	
  I	
  also	
  learnt	
  how	
  important	
  agricultural	
  products	
  are	
  in	
  our	
  day-­‐to-­‐day	
  life	
  and	
  
how	
  farmers	
  work	
  hard	
  to	
  provide	
  the	
  same…	
  
	
  
Alka	
   India	
   started	
   its	
   100%	
   export-­‐oriented	
   software	
   business	
   around	
   the	
   same	
   time,	
   so	
   Arun	
  
completed	
  his	
  MCSD/MCSE	
  courses	
  and	
  handled	
  this	
  new	
  stream	
  of	
  business	
  as	
  well.	
  	
  
	
  
During	
  this	
  period,	
  Arun	
  was	
  also	
  a	
  Director	
  with	
  Karnavati	
  Fincap	
  Limited,	
  which	
  then	
  changed	
  
its	
  name	
  to	
  Vasudev	
  Textiles	
  &	
  Industries	
  Limited,	
  and	
  was	
  then	
  sold	
  to	
  new	
  management.	
  This	
  
company	
   is	
   now	
   known	
   as	
   Asian	
   Granito	
   Limited,	
   now	
   one	
   of	
   the	
   largest	
   players	
   in	
   the	
   tile	
  
industry	
  in	
  India.	
  
	
  
The	
   decline	
   in	
   the	
   textile	
   industry	
   made	
   Arun	
   look	
   at	
   other	
   avenues	
   of	
   business,	
   and	
   in	
   1999,	
  
was	
  appointed	
  as	
  the	
  CEO/MD	
  of	
  Kuber	
  Cooperative	
  Bank.	
  	
  
	
  
It	
  wasn’t	
  easy	
  leaving	
  my	
  comfort	
  zone	
  in	
  textiles	
  and	
  entering	
  financial	
  services.	
  I	
  had	
  the	
  IPO	
  
experience,	
   but	
   this	
   was	
   a	
   different	
   ball	
   game	
   altogether.	
   However,	
   I	
   took	
   it	
   as	
   a	
   challenge	
   to	
  
prove	
  myself…	
  
	
  
BANKING-­‐	
  THE	
  FIRST	
  STINT	
  
	
  
At	
   Kuber,	
   Arun	
   dealt	
   with	
   all	
   aspects	
   of	
   retail	
   banking,	
   housing	
   loans,	
   trade	
   finance	
   and	
  
commercial	
   banking.	
   He	
   handled	
   RBI	
   audits,	
   learnt	
   banking	
   policies,	
   and	
   attended	
   numerous	
  
seminars	
   to	
   keep	
   himself	
   up-­‐to-­‐date	
   with	
   the	
   latest	
   in	
   the	
   banking	
   industry.	
   His	
   hard	
   work	
  
showed	
  great	
  results-­‐	
  at	
  the	
  time	
  of	
  taking	
  over	
  the	
  bank,	
  it’s	
  capital	
  &	
  networth	
  was	
  3	
  million	
  
INR,	
   this	
   increased	
   to	
   20	
   million	
   INR(inclusive	
   profits	
   and	
   reserves)	
   by	
   the	
   time	
   he	
   retired	
   in	
  
2003,	
  and	
  all	
  its	
  financial	
  years	
  ended	
  in	
  profit.	
  The	
  performance	
  graph	
  of	
  the	
  bank	
  during	
  his	
  
tenure	
  was	
  always	
  taking	
  up	
  the	
  ladder	
  .	
  
	
  
Business	
  travel	
  always	
  excited	
  me,	
  the	
  prospect	
  of	
  meeting	
  new	
  business	
  people,	
  exploring	
  new	
  
business	
  ideas.	
  I	
  still	
  travel	
  extensively,	
  clocking	
  in	
  an	
  average	
  of	
  20	
  travel	
  days	
  a	
  month!	
  
	
  
COMMODITY	
  TRADING	
  
	
  
In	
  the	
  year	
  2000,	
  Arun	
  started	
  traveling	
  to	
  the	
  UAE,	
  where	
  he	
  saw	
  exciting	
  trading	
  opportunities.	
  
This	
  resulted	
  in	
  him	
  establishing	
  a	
  general	
  trading	
  company-­‐	
  Vintage	
  FZE,	
  in	
  Jebel	
  Ali	
  Free	
  Zone	
  
in	
  Dubai.	
  Initially	
  trading	
  in	
  computer	
  hardware,	
  software	
  and	
  copier	
  paper,	
  Vintage	
  expanded	
  
its	
  trading	
  portfolio	
  to	
  include	
   aluminum,	
  heavy	
  metal	
  scrap,	
  copper	
  scrap	
  and	
   commodities	
   like	
  
rice,	
  pistachios,	
  saffron	
  and	
  vegetables.	
  This	
  hands-­‐on	
  experience	
  in	
  commodity	
  trading	
  helped	
  
Arun	
  build	
  his	
  base	
  in	
  the	
  trading	
  industry,	
  and	
  he	
  grew	
  the	
  company	
  from	
  a	
  turnover	
  of	
  US$	
  1.3	
  
million	
  at	
  inception	
  to	
  an	
  impressive	
  US$	
  141	
  million	
  in	
  2009.	
  	
  Meanwhile	
  Alka	
  India	
  also	
  started	
  
a	
  division	
  for	
  trading	
  of	
  physical	
  gold	
  and	
  silver	
  bullion,	
  and	
  this	
  too	
  was	
  overseen	
  by	
  Arun.	
  	
  
	
  
The	
  success	
  of	
  Vintage	
  FZE	
  prompted	
  Arun	
  to	
  shift	
  base	
  to	
  Dubai,	
  and	
  he	
  voluntarily	
  retired	
  from	
  
Alka	
  India	
  and	
  Kuber	
  Bank,	
  so	
  that	
  he	
  could	
  focus	
  on	
  his	
  trading	
  business	
  which	
  he	
  found	
  more	
  
exciting.	
  	
  
In	
  2003,	
  Arun	
  became	
  a	
  member	
  of	
  the	
  DGCX	
  and	
  also	
  entered	
  into	
  a	
  tie-­‐up	
  to	
  market	
  the	
  FX	
  
online	
   trading	
   platform	
   of	
   RCG	
   FX	
   London,	
   which	
   was	
   owned	
   by	
   the	
   2nd	
   largest	
   commodity	
  
broker	
  in	
  Chicago-­‐	
  RCG	
  Group.	
  	
  
	
  
During	
   his	
   visit	
   to	
   London,	
   Arun	
   was	
   impressed	
   by	
   the	
   financial	
   market	
   there	
  and	
  saw	
  a	
  lot	
  of	
  
opportunity	
  for	
  business.	
  	
  
	
  
I	
  was	
  impressed	
  by	
  the	
  work	
  environment	
  in	
  London,	
  the	
  pulse	
  of	
  the	
  financial	
  centre.	
  This	
  was	
  
something	
   I	
   wanted	
   to	
   be	
   part	
   of,	
   and	
   I	
   knew	
   I	
   could	
   capitalize	
   on	
   my	
   banking	
   and	
   IPO	
  
experience	
  and	
  create	
  a	
  financial	
  services	
  company…	
  
	
  
FINANCIAL	
  SERVICES	
  
	
  
Pan	
   Asia	
   Advisors,	
   an	
   international	
   corporate	
   advisory	
   firm	
   and	
   boutique	
   investment-­‐banking	
  
firm	
   was	
   set	
   up	
   by	
   Arun	
   in	
   2006.	
   Through	
   PAA,	
   he	
   advised	
   international	
   corporate	
   on	
   Private	
  
Equity,	
   Mergers	
   &	
   Acquisitions,	
   GDR,	
   FCCB	
   and	
   debt	
   funding.	
   Arun	
   worked	
   on	
   numerous	
  
transactions	
   and	
   assisted,	
   both	
   directly	
   and	
   indirectly,	
   in	
   raising	
   fund	
   of	
   more	
   than	
   USD	
   2	
   billion	
  
in	
   the	
   international	
   market	
   for	
   global	
   corporates.	
   	
   PAA	
   also	
   assisted	
   clients	
   in	
   listings	
   on	
   the	
  
Luxemborg,	
  DIFX	
  and	
  Singapore	
  stock	
  exchanges.	
  	
  
	
  
I	
   have	
   exposure	
   on	
   various	
   sectors-­‐Media,	
   Telecommunications,	
   films,	
   broadcasting,	
   textiles,	
  
sugar,	
   metal,	
   retail,	
   oil,	
   industry	
   and	
   pharma	
   among	
   others.	
   This	
   gave	
   me	
   a	
   deep	
   insight	
   into	
  
many	
  business	
  verticals,	
  and	
  I	
  wanted	
  to	
  do	
  more…	
  
	
  
INVESTMENT	
  BANKING	
  
	
  
Having	
   gained	
   rich	
   experience	
   in	
   a	
   variety	
   of	
   business	
   sectors,	
   Arun	
   now	
   set	
   his	
   sights	
   on	
   the	
  
investment	
  banking	
  business.	
  His	
  trips	
  to	
  Europe	
  brought	
  him	
  into	
  contact	
  with	
  a	
  private	
  bank	
  in	
  
Vienna-­‐	
  Euram	
  Bank.	
  This	
  resulted	
  in	
  a	
  joint	
  venture	
  investment	
  bank	
  set	
  up	
  by	
  PAA	
  and	
  Euram	
  
Bank	
   and	
   christened	
   Euram	
   Bank	
   Asia	
   Ltd.,	
   was	
   established	
   in	
   the	
   DIFC	
   in	
   2008.	
   Arun	
   was	
  
appointed	
  President	
  of	
  the	
  bank,	
  and	
  the	
  head	
  of	
  corporate	
  finance	
  and	
  investment	
  banking.	
  He	
  
spearheaded	
   a	
   number	
   of	
   transactions	
   in	
   the	
   first	
   two	
   years	
   itself,	
   notable	
   mentions	
   being	
   a	
  
USD	
   3	
   billion	
   deal	
   for	
   an	
   oil	
   and	
   gas	
   industrial	
   park	
   in	
   Malaysia	
   and	
   gold,	
   coal	
   mining	
   and	
   oil	
  
refinery	
  deals	
  in	
  East	
  Asia,	
  Australia	
  and	
  Africa.	
  	
  
	
  
Under	
  his	
  leadership,	
  Euram	
  Asia	
  declared	
  95%	
  dividend	
  in	
  Year	
  1	
  and	
  90%	
  dividend	
  in	
  Year	
  2,	
  
which	
  was	
  a	
  huge	
  achievement	
  in	
  itself.	
  
	
  
Investment	
   banking	
   brought	
   me	
   to	
   the	
   other	
   side	
   of	
   traditional	
   businesses;	
   while	
   my	
   heart	
   lay	
   in	
  
the	
  operational	
  aspects	
  of	
  the	
  business,	
  my	
  mind	
  knew	
  that	
  investments	
  drove	
  such	
  ventures...a	
  
dichotomy	
  of	
  sorts	
  	
  
	
  
	
  
INVESTMENT	
  FUNDS	
  
	
  
During	
   2007,	
   Arun	
   started	
   working	
   on	
   setting	
   up	
   a	
   structure	
   to	
   enter	
   the	
   investment	
   funds	
  
business.	
   The	
   result	
   was	
   Cardinal	
   Capital	
   Partners,	
   a	
   fund	
   management	
   company	
   set	
   up	
   in	
  
Mauritius	
  and	
  regulated	
  by	
  the	
  FSC,	
  and	
  registered	
  with	
  SEBI	
  as	
  an	
  FII	
  as	
  well.	
  	
  CCP	
  promoted	
  
and	
   managed	
   IFCF,	
   which	
   started	
   operations	
   with	
   an	
   AUM	
   of	
   US$	
   3	
   million	
   and	
   a	
   Net	
   Asset	
  
Value	
  of	
  US$	
  1	
  per	
  Share.	
  By	
  2010,	
  the	
  fund	
  had	
  grown	
  to	
  an	
  AUM	
  of	
  US$	
  110	
  million,	
  with	
  an	
  
NAV	
  of	
  US	
  $	
  upto	
  5.34	
  per	
  share.	
  	
  
	
  
Arun	
  resigned	
  from	
  IFCF	
  in	
  June	
  2010,	
  due	
  to	
  his	
  pressing	
  commitments	
  at	
  EBAL.	
  	
  
	
  
	
  
SHIPPING	
  &	
  LOGISTICS	
  
	
  
In	
  2006-­‐07,	
  Arun	
  set	
  up	
  Vintage	
  shipping	
  and	
  logistics,	
  a	
  short	
  stint	
  in	
  the	
  logistics	
  business.	
  	
  It	
  
didn’t	
  do	
  as	
  well	
  as	
  expected,	
  partly	
  because	
  of	
  bad	
  market	
  conditions	
  prevailing	
  at	
  that	
  time.	
  	
  
	
  
Vintage	
  shipping	
  reinforced	
  one	
  lesson-­‐	
  timing	
  is	
  critical.	
  It	
  didn’t	
  work	
  out,	
  but	
  I	
  will	
  not	
  give	
  it	
  
up	
  until	
  it	
  does!	
  
	
  
	
  
	
  
ALLEGATIONS	
  	
  
	
  	
  
	
  
In	
  September	
  21st	
  2011,	
  Arun	
  was	
  caught	
  unawares	
  by	
  a	
  malicious	
  allegation	
  leveled	
  by	
  SEBI	
  on	
  
PAA	
   and	
   himself.	
   	
   This	
   was	
   particularly	
   surprising	
   since	
   both	
   PAA	
   and	
   he	
   did	
   not	
   even	
   come	
  
under	
  the	
  jurisdiction	
  of	
  the	
  regulator.	
  	
  
	
  
SEBI	
   issued	
   an	
   interim	
   order	
   pending	
   investigation	
   which	
   they	
   subsequently	
   went	
   ahead	
   and	
  
confirmed	
  on	
  17th	
  Jan	
  2012,	
  again	
  pending	
  further	
  investigation.	
  
	
  
The	
   SEBI	
   allegations,	
   though	
   unfounded	
   and	
   baseless,	
   rocked	
   my	
   boat…I	
   resigned	
   from	
   EBAL	
  
immediately,	
  resolving	
  to	
  prove	
  my	
  innocence	
  and	
  clear	
  my	
  name.	
  I	
  left	
  India	
  in	
  the	
  year	
  2002	
  
and	
  became	
  an	
  NRI	
  to	
  expand	
  my	
  business	
  in	
  the	
  International	
  markets	
  where	
  I	
  am	
  regulated.	
  I	
  
am	
  answerable	
  to	
  regulatory	
  bodies	
  local	
  to	
  the	
  jurisdictions	
  where	
  I	
  operate,	
  but	
  not	
  to	
  SEBI.	
  .	
  
	
  
	
  
CURRENT	
  STATUS	
  
	
  
Joined	
   Signature	
   Group	
   on	
  16th	
   January	
   2012	
   as	
   director	
   &	
   partner.	
   Signature	
   is	
   a	
   private	
   equity	
  
and	
   corporate	
   finance	
   firm	
   focused	
   on	
   the	
   emerging	
   markets	
   of	
   India,	
   GCC	
   and	
   Africa.	
   It	
  
currently	
  manages	
  US$	
  1.2	
  billion	
  of	
  investments	
  in	
  these	
  markets.	
  	
  
	
  
Arun	
  is	
  also	
  an	
  advisor	
  to	
  The	
  Falcon	
  Fund	
  Limited,	
  which	
  invests	
  in	
  the	
  mining	
  industry	
  globally.	
  
	
  
	
  
AWARDS	
  AND	
  RECOGNITION	
  
	
  
Arun	
   was	
   honored	
   with	
   the	
   “Business	
   Person	
   of	
   the	
   Year	
   2010	
   ”	
   award	
   at	
   the	
   11th	
   Asian	
  
Achievers	
   Awards	
   held	
   at	
   Wembley	
   Stadium,	
   London.	
   The	
   AAA	
   recognizes	
   the	
   various	
  
outstanding	
  roles	
  played	
  by	
  Britain’s	
  Asian	
  community,	
  	
  
	
  
Arun	
   was	
   also	
   bestowed	
   with	
   the	
   Asian	
   Banker	
   of	
   the	
   Year	
   2010	
   award	
   by	
   Asian	
   Who’s	
   Who	
  
International;	
  he	
  received	
  this	
  recognition	
  from	
  Ms.	
  Cherie	
  Blair	
  in	
  London.	
  
	
  
	
  
	
  
	
  
	
  

				
DOCUMENT INFO
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posted:11/21/2012
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Description: Arun Panchariya has over fifteen years of in-depth experience in financial services including private equity and retail banking across a range of geographic locations and deal sizes. He is adept in trading of direct equities, commodities, futures, derivatives and other financial and money market instruments.