Corporate Governance at CleanMax

At CleanMax, governance is more than compliance - it’s a core pillar of how we operate. We’re committed to ethical leadership, risk management, and stakeholder trust.
Governance Framework

Board Committees at a Glance

Kuldeep Jain
Founder and Managing Director

Mr. Jain is the Founder and Managing Director of CleanMax, and a leading force in Asia’s clean energy transition. An alumnus of IIM Ahmedabad, a Chartered Accountant, and a former Global Partner at McKinsey and Company, he brings deep expertise in energy and finance. Under his leadership, CleanMax has grown into a market leader across India, the Middle East, and Southeast Asia, accelerating net-zero journeys for global corporates. Recognised by ET, Forbes, and IIM for his contributions, Kuldeep continues to shape the future of sustainable business with clarity, scale, and impact.

Pratap Jain
Non-Executive Director

Pratap Jain brings rich operational experience from the apparel and textile sector. As a former senior leader at the Raymond Group, he has led large teams and scaled business operations. A Chartered Accountant by qualification, Pratap contributes financial clarity and operational foresight to the CleanMax board.

Santosh Janakiram Iyer
Non-Executive Independent Director

Mr. Santosh Janakiram is a Senior Partner & Member of the Partnership Council at Cyril Amarchand Mangaldas (“CAM”) and previously was a partner in Amarchand & Mangaldas & Suresh A. Shroff & Co. (AMSS), India’s largest and foremost law firm. Mr. Janakiram was admitted to the Bar after receiving his B.A. LLB (Hons.) degree from the National Law School of India University in Bangalore, and has worked with AMSS/CAM’s Mumbai office since 2001. Mr. Janakiram has rich and in depth experience in construction, projects, project financing, structured financing, acquisition financing, banking, debt capital markets and private equity. He represents developers, sponsors, lenders and is involved in various infrastructure sectors, including renewable energy, construction, transportation and mining. He has spearheaded the development of the renewable energy practice at the Firm and has been involved in the development of the transition and sustainable energy practice.

Shilpa Divekar Nirula
Non-Executive Independent Director

Ms. Shilpa is an accomplished professional with over 29 years of experience, beginning her career in consulting and successfully transitioning to leadership roles in the dynamic agribusiness and food sectors. She has worked for prestigious organizations including Arthur Andersen, KPMG, Bunge Agribusiness, Monsanto, and Bayer CropScience, steadily advancing through roles of increasing responsibility. At Bayer CropScience, Ms. Shilpa led Strategy and Commercial Excellence for the Asia-Pacific region and co-led the Global Smallholder Strategy. She has also served as the CEO and Managing Director of Monsanto India driving key business initiatives and overseeing operations. Ms. Shilpa was the Head of Strategy & Business Development at Bunge India a leading US-based multinational in the oilseeds, commodity trading, and food sectors. 

Ms. Shilpa currently serves as an Independent Director on the boards of AstraZeneca Pharma India Limited and GMM Pfaudler India Limited, and as a Non-Executive Director at Grow Indigo Private Limited. 

She is also the Co-founder of AGVAYA LLP, a consulting firm focused on the agriculture and food value chain. She holds a postgraduate degree in Commerce and is a qualified Chartered Accountant, Cost Accountant, and MBA.

Nawal Saini
Managing Partner, Energy

Nawal Saini is a Managing Partner in Brookfield’s Energy Group. In this role, he leads the  group’s business in South Asia and the Middle East. 

Prior to joining Brookfield in 2018, Mr. Saini focused on renewables for infrastructure  investment teams at CDPQ and JP Morgan. He also worked at Jacob Ballas, a New York Life anchored private equity fund in India, and as a banker with ABN Amro Bank and SBI Capital  Markets. 

Mr. Saini holds a Master of Business Administration degree from the Management  Development Institute, Gurgaon and a Bachelor of Science degree from Delhi University.

Murzash Manekshana
Managing Partner, Energy

Murzash Manekshana is a Managing Partner and Head of Asset Management in India for Brookfield’s Energy Group. In this role, he is responsible for ensuring value creation and driving business plans across the group’s investments in the country. Mr. Manekshana was previously associated with Brookfield’s Infrastructure Group and led the roads platform in India. 

Prior to joining Brookfield in 2021, Mr. Manekshana held key leadership positions and entrepreneurial roles across industries. 

Mr. Manekshana holds a Bachelor of Commerce degree from the University of Mumbai and is a Chartered Accountant.

Mr. Dinesh Khara
Lead Independant Director

Mr. Dinesh Khara is a distinguished career banker with nearly 40 years of extensive experience in the banking sector, both in India and internationally. He served as the Chairman of State Bank of India (SBI) from October 2020 to August 2024. Prior to his appointment as Chairman, he was the Managing Director (Global Banking & Subsidiaries), where he led the International Banking group, Corporate Banking, Treasury Operations, and successfully guided SBI’s non-banking subsidiaries, including SBI Mutual Fund, SBI Life Insurance, SBI Cards, and SBI Capital Markets.

As Managing Director (Associates & Subsidiaries), Mr. Khara played a pivotal role in the successful merger of five Associate Banks and Bharatiya Mahila Bank with SBI. He also managed key functions such as Risk, Information Technology, and Compliance.

Before becoming Managing Director at SBI in August 2016, Mr. Khara was the Managing Director & CEO of SBI Funds Management Pvt Ltd from November 2013 to August 2016. He began his career with SBI as a Probationary Officer in 1984 and has consistently demonstrated leadership across various facets of banking.

Mr. Khara is appointed Chairperson of NPS Trust by Pension Fund Regulatory Authority (PFRDA). Securities Exchange Board of India (SEBI) has appointed him as Chairman of Corporate Bond and Securitisation Advisory Committee of SEBI.

In addition, he is a Member of Pension Advisory Committee of PFRDA.

Mr. Khara holds Independent Directorship in various companies’ boards.

Mr. Khara holds an MBA from the Faculty of Management Studies, New Delhi, and a postgraduate degree in Commerce from the Delhi School of Economics. He is also a Fellow of the Indian Institute of Banking & Finance. He is deeply focused on leveraging analytics and technology to drive innovation and enhance operational efficiency in corporate entities.

Ajay Kaul
Non-Executive Independent Director

Ajay Kaul is an Independent Director on the Board of our Company. He holds a bachelor’s degree from Indian Institute of Technology, Delhi and post graduate diploma in management from XLRI, Jamshedpur. He has previously served as a chief executive officer and whole-time director of Jubilant FoodWorks Limited (Formerly known as Domino’s Pizza India Limited) and as a senior advisor of F&B Asia Management Pte. Ltd. (an entity controlled by Everstone group). He has several years of experience in the food and beverage industry. He is currently associated with Restaurants Brands Asia Limited as a director.

1/4

Committee of Independent Directors

Ms. Shilpa Divekar Nirula

Member

Mr. Santosh Janakiram Iyer

Member

Mr. Ajay Kaul 

Member

Mr. Dinesh Khara

Member

Risk Management Committee

Mr. Kuldeep Jain 

Member

Mr. Murzash Manekshana 

Member 

Mr. Dinesh Khara

Member

Initial Public Offering Committee

Mr. Kuldeep Jain 

Member

Mr. Nawal Saini 

Member

Corporate Social Responsibility Committee

Mr. Kuldeep Jain 

Member

Mr. Pratap Jain 

Member

Mr. Ajay Kaul 

Member

Audit Committee

Ms. Shilpa Divekar Nirula

Chairperson 

Mr. Santosh Janakiram Iyer

Member

Mr. Kuldeep Jain 

Member

Nomination and Remuneration Committee 

Mr. Ajay Kaul 

Chairperson 

Mr. Murzash Manekshana 

Member 

Mr. Dinesh Khara

Member

Stakeholder Relationship Committee

Mr. Santosh Janakiram Iyer 

Chairperson

Mr. Kuldeep Jain 

Member

Mr. Nawal Saini 

Member

Committee of Independent Directors

Ms. Shilpa Divekar Nirula

Member

Mr. Santosh Janakiram Iyer

Member

Mr. Ajay Kaul 

Member

Mr. Dinesh Khara

Member

Risk Management Committee

Mr. Kuldeep Jain 

Member

Mr. Murzash Manekshana 

Member 

Mr. Dinesh Khara

Member

Initial Public Offering Committee

Mr. Kuldeep Jain 

Member

Mr. Nawal Saini 

Member

Corporate Social Responsibility Committee

Mr. Kuldeep Jain 

Member

Mr. Pratap Jain 

Member

Mr. Ajay Kaul 

Member

Audit Committee

Ms. Shilpa Divekar Nirula

Chairperson 

Mr. Santosh Janakiram Iyer

Member

Mr. Kuldeep Jain 

Member

Nomination and Remuneration Committee 

Mr. Ajay Kaul 

Chairperson 

Mr. Murzash Manekshana 

Member 

Mr. Dinesh Khara

Member

Stakeholder Relationship Committee

Mr. Santosh Janakiram Iyer 

Chairperson

Mr. Kuldeep Jain 

Member

Mr. Nawal Saini 

Member
committe member pfp
Kuldeep Jain
Managing Director

Mr. Kuldeep Jain, a visionary leader and the driving force behind CleanMax, has fundamentally transformed the sustainability landscape in Asia, accelerating the decarbonization journey for progressive industries. He founded CleanMax with a vision to lead the transition to clean energy in the commercial and industrial sector and under his leadership, the company has grown exponentially. With a distinguished background as an IIM Ahmedabad alumnus, Chartered Accountant, and a former Global Partner at McKinsey & Company, where he headed the energy and corporate finance division, Kuldeep's expertise has been instrumental in driving CleanMax's extraordinary growth.

His strategic acumen, environmental stewardship, and dynamic leadership have propelled the company to a leading position, across India, the Middle East, and South-East Asia. Under his guidance, CleanMax has become the preferred partner for corporations pursuing sustainability and Net-Zero goals. His ab

Mr. Kuldeep Jain, a visionary leader and the driving force behind CleanMax, has fundamentally transformed the sustainability landscape in Asia, accelerating the decarbonization journey for progressive industries. He founded CleanMax with a vision to lead the transition to clean energy in the commercial and industrial sector and under his leadership, the company has grown exponentially. With a distinguished background as an IIM Ahmedabad alumnus, Chartered Accountant, and a former Global Partner at McKinsey & Company, where he headed the energy and corporate finance division, Kuldeep's expertise has been instrumental in driving CleanMax's extraordinary growth.

His strategic acumen, environmental stewardship, and dynamic leadership have propelled the company to a leading position, across India, the Middle East, and South-East Asia. Under his guidance, CleanMax has become the preferred partner for corporations pursuing sustainability and Net-Zero goals. His ab

Mr. Kuldeep Jain, a visionary leader and the driving force behind CleanMax, has fundamentally transformed the sustainability landscape in Asia, accelerating the decarbonization journey for progressive industries. He founded CleanMax with a vision to lead the transition to clean energy in the commercial and industrial sector and under his leadership, the company has grown exponentially. With a distinguished background as an IIM Ahmedabad alumnus, Chartered Accountant, and a former Global Partner at McKinsey & Company, where he headed the energy and corporate finance division, Kuldeep's expertise has been instrumental in driving CleanMax's extraordinary growth.

His strategic acumen, environmental stewardship, and dynamic leadership have propelled the company to a leading position, across India, the Middle East, and South-East Asia. Under his guidance, CleanMax has become the preferred partner for corporations pursuing sustainability and Net-Zero goals. His ab

Corporate Governance policies disclosure
Audit Committee
View Policy
CSR Committee
View Policy
NRC Committee
View Policy
Project Monitoring and Finance Committee
View Policy

CleanMax Enviro Energy Solutions Limited

CleanMax
Registered Office

CIN - U93090MH2010PLC208425

Investor Relations or Institutional Investors and Research Analyst

Queries or Investor Grievances

Mr. Ullash Parida

Vistra ITCL (India) Limited - 6th Floor, The IL&FS Financial Centre, Plot No. C–22, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051

Company Secretary and Compliance Officer

Mr. Ullash Parida

Vistra ITCL (India) Limited - 6th Floor, The IL&FS Financial Centre, Plot No. C–22, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051

Debenture trustees

Mr. Krunal Shah
Vistra ITCL (India) Limited - 6th Floor, The IL&FS Financial Centre, Plot No. C–22, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051