Midland Microfin Limited Unlisted Shares

Overview 

Type of Organization 

• Midland Microfin Ltd is a microfinance institution registered as an 'NBFC-MFI' with the Reserve Bank of India. Its head office is located in Jalandhar, Punjab, and the company operates in the microfinance sector across India.

Net Worth

• Midland Microfin Ltd currently has an Authorized Share Capital of INR 7500 lakhs. The Net Worth of the company as on date is INR 29,484 Lakhs.

Total Assets

• As of December 31, 2022, the total assets of Midland Microfin Ltd amount to INR 1,96,046 Lakhs.

Information Technology

• Midland Microfin Ltd (MML) is committed to being a technology-savvy microfinance institution, and as part of this vision, it has partnered with Jayam Solutions to adopt their web-based centralized software solution. Jayam Solutions is a global leader in providing business solutions through their software services. Their software solution for MFIs, called Efimo, is a customizable and scalable platform that can handle large volumes of accounts and transactions. It has a menu-driven interface and rich parameters that can run on any standard browser. MML chose this software after studying different options available in the industry to help them manage their microfinance business processes. Elfimo will allow MML and other MFIs and banks to continue supporting their growing business requirements.

Promoters & Management 

Mr. Amitesh Kumar
(COO & CFO)
Qualification: B.Sc. (Horticulture), MBA (Agri-Business and Rural Management)

• Amitesh Kumar, a founding executive team member of Midland Microfin Ltd, is a highly accomplished microfinance development professional with over 12 years of diversified and progressive experience. He has expertise in sales and marketing, business development, accounting and financial management, fund raising, management reporting, compliance, and risk management, among others. His areas of interest also include operations management, revenue expansion, retail banking operations, employee retention, portfolio management, research, training and development, and people management. Amitesh is known for his adept leadership and application of sound management practices, delivering consistent business results throughout his career.
• Starting as an Area Manager for an MFI, Amitesh has risen through the ranks to manage the Operations and Finance Department of MML. Since the inception of MML in 2011, he has played an instrumental role in setting up and implementing the institution's strategic goals. Amitesh is a proven leader with strategic strength, tenacity, and a positive attitude towards every situation. In recognition of his exceptional leadership, he was named a Top 5 CFO in Finance-2019 by CEO Insights Magazine.

Mr. Gagandeep Sharma
(Chief Technology Officer)
Qualification: Post Graduation – MCA

• With over 17 years of experience in various organizations like As Software Services Pvt Ltd, StarAgri Finance Ltd, Indiabulls Housing Finance Services Ltd, and ICIC HFC Ltd, Mr. Gagandeep Sharma brings extensive expertise to his role as IT Head at Midland Microfin Limited. In his current position, he is responsible for overseeing all technology operations and evaluating them according to established goals. Besides being technically adept, he also devises and establishes IT policies and systems to support the implementation of strategies set by upper management pertaining to budget control, strategic thinking, business analysis, and vendor management.

Mr. Sumit Bhojwani
(Company Secretary)
Qualification: M. Com, LLM, DIPR, DIA & CS

• Mr. Sumit Bhojwani, an Executive member of Ludhiana Chapter of NIRC of ICSI, is a qualified Company Secretary with over 6 years of experience in the field. As the Company Secretary of Midland Microfin Ltd, he is responsible for ensuring compliance with various laws and regulations including those of SEBI, Reserve Bank of India, and FEMA. He also oversees the Corporate Compliance Program and ensures that the organization adheres to the company's standards of conduct as well as regulatory agencies' rules and regulations.

Mr. Gagandeep Sharma
(DVP – Legal)
Qualification: B.Com, CA Inter, LLB

• Mr. Gagandeep Sharma, a law graduate and CA Inter, brings over 16 years of experience in Income Tax and audit to his role in Midland Microfin Ltd. He has played a significant role in developing a rigorous internal control system by implementing standardized audit processes and providing strategic guidance to the legal and audit teams. His expertise also extends to contracts, dispute resolution, regulatory compliance, documentation, corporate advisory, and anti-trust matters. He works closely with business teams and lawyers in India and has a deep understanding of regulatory compliance and risk management in the financial sector. In his role as the head of the legal team, he ensures that the company complies with regulations and manages potential risks.

Ms. Saachi Sachdev
(AVP – Human Resource)
Qualification: MBA -University of St. Andrews, Scotland, United Kingdom

• Ms. Saachi possesses 5 years of experience in Human Resource Management. Her most recent role involved managing core talent acquisition, manpower budgeting, and recruitment at WNS Global Services, Mumbai. She is responsible for designing HR processes and policies, implementing human resource systems, and introducing new ideas and innovations to enhance the overall efficiency and impact of the Human Resource Department.

Mr. Maninder Kumar
(AVP – Credit & Product)
Qualification: Bachelor of Arts.

• At the beginning of its operations in November 2010, Mr. Maninder Kumar joined Midland Microfin Limited and has since then, utilized his rich experience of 10 years in the microfinance industry to help design processes, policies, and products. He is responsible for driving the backend business operations, including tasks related to process, credit, compliance, and analytics. As Associate Vice President-Credit, he leads the company's credit monitoring and granting process, risk analysis, and research and development of appropriate methodologies and processes to establish risk appetite. His role also includes suggesting and implementing policies and procedures to help the company achieve its business targets and risk management goals.