About Us

Company

Midland Microfin Ltd (MML) is a pioneering force in the microfinance sector, dedicated to expanding financial access and opportunities for marginalized communities in India. MML proudly carries the badge of being the first Punjab-based MFI, registered as an ‘NBFC – MFI’ with the Reserve Bank of India (RBI), operating as a Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND-ML) bearing RBI registration No. B-06.00458. With its headquarters nestled in Jalandhar, Punjab, MML embarked on a remarkable journey dedicated to the Financial & Social Empowerment of Women. The company has been at the forefront of extending small Business Loans, for promoting entrepreneurship and reshaping destinies. From its inception, MML has fervently adhered to all regulatory and legal requirements, establishing itself as a paragon of integrity.

MML has scripted its legacy over the past one decade and the institution’s geographic footprint spans over 12 States and 2 Union Territories with 415 branches. The branch network now extends from Punjab to Himachal Pradesh, Haryana to Jammu & Kashmir, Bihar, Gujarat, Jharkhand, Odisha, Uttar Pradesh, Madhya Pradesh, Uttarakhand, West Bengal, and Chandigarh.

MML’s mission thrives on nurturing women entrepreneurs as a sustainable force for change, providing working capital loans that pave the way for micro enterprises to flourish. With a range of meticulously crafted products and services, MML’s offerings cater to the financial needs of progressive, industrious women from humble backgrounds. From Joint Liability Group (JLG) loans to individual loans, dairy loans to water & sanitation loans, MML’s financial products are designed to not only empower these women economically but also elevate their living standards. Aspiring to be a comprehensive financial partner, MML envisions becoming a one-stop solution, meeting all the diverse financial needs of its clients.

With an unwavering commitment to grassroots empowerment, MML strives to exemplify a technology driven microfinance institution, determined to uplift the progressive poor and eradicate poverty. As on June 30, 2023 the Authorized Share Capital of Midland Microfin Limited is Rs 12000 lakhs and the Net Worth of the company is Rs 37,070 Lakhs. The value of Total Assets of Midland Microfin Limited as on June 30, 2023 is Rs 1,91,902 Lakhs.

Through its visionary approach, unwavering commitment, and innovative strategies, MML is making significant strides in reshaping lives and contributing to a more inclusive and prosperous society.

Governance

Mr. Vijay Bhandari

Chairman (Non-executive)
Specialization : Banking, Finance, Administration
Mr. Vijay Kumar Bhandari is a Fellow member of Institute of Chartered Accountants of India. He is a banker by profession and former General Manager of Central Bank of India. He has over 31 years of experience in Banking Industry in various capacities as Senior Internal Auditor, Branch Manager, Regional Manager and Zonal Manager. He held his last position as General Manager-In-Charge of Credit, Credit Monitoring, Treasury, Investment, Fund Management, Merchant Banking and International Banking division of Central Bank of India. He is also on the Board of Various renowned companies as an Independent Director.

Mr. Amardeep Samra

Promoter and Managing Director
Specialization : Finance, Administration & Social Work

Amardeep Singh Samra is the MD and CEO of Midland Microfin Ltd which is the first Punjab based Microfinance Institution and is one of the leading MFIs in the states of of Punjab, Haryana, Rajasthan, UP, Bihar, Himachal Pradesh, Jharkhand, Gujarat, Madhya Pradesh, West Bengal, Uttarakhand, Chandigarh (UT) and Delhi (UT) having more than Five lakh fifty thousand customers. He is passionate about microfinance, hence introduced this concept in Punjab & neighbouring states of Haryana & Rajasthan. He spearheads a highly experienced management team and with his professional and ethical approach, Midland Microfin Ltd has been able to become a major player. In a short span of 11 years, Midland Microfin has achieved exemplary landmarks including excellent asset quality.

 He has a specialization in Finance, Marketing and Administration, introduced various innovative ideas in the business. Pioneered the concept of centralised credit sanctioning coupled with digital and cashless disbursement and also has a privilege of introducing centralised credit risk monitoring system. Endeavouring to achieve a comprehensive tech driven cashless digital eco-system. Instrumental in creating an institution with focus on Corporate Governance ethical client relationship management.
He is also a Director in Microfinance Institutions Network (MFIN), the premier industry association and Self-Regulatory Organization (SRO) for the microfinance industry in India as regulated under RBI.

Socio-Economic Activities

He has tremendous interest in Photography and art, takes part in regional and international photo exhibitions. He takes keen interest in sports activities & Architecture. He is a keen runner and cyclist; regularly takes part in marathons across India. Works as a co-ordinator in Punjab & Haryana Finance Companies Association (PHFCA)  

He is a member of Photographic Society of America (PSA) and life member of Bombay Natural History Society (BNHS). Furthermore he is a member of Young Presidents Organisation (YPO) Punjab Chapter, the world’s premium network of chief executives.

Mr. Shant Kr. Gupta

Independent Director
Specialization : Industry, Administration & Social Work
Mr. Shant Kr. Gupta, Post graduate in Economics and a businessman by profession is Chairman and Promoter of renowned ‘HAMCO GROUP’ engaged in Manufacturing and trading of Iron and Steel and Hand tools. He is a Director of S.R. Impex Ltd., Vill Dhogri, Jalandhar (Mfg of power cables). He is also very active on the social front and is Founder Chairman of ‘Hamco Charitable Trust’, an NGO involved in imparting free computer education to poor and needy students with an objective to bring them at par with their counterparts. More than 400 students have already been benefited through this Project.

Ms. Kamna Raj Aggarwalla

Independent Woman Director
Specialization : Public Relation, Product Development and Marketting
Mrs. Kamna Raj Aggarwalla is one of the youngest women entrepreneurs to pave way for GDPA Fasteners’ entry into exports as Managing Partner. She has a dynamic personality with a vast experience in corporate world and devotes a lot of time to social work also. Mrs. Aggarwalla is a Member of the Advisory Board to Government of Punjab for Small Scale Industries. She is also the Regional Chairperson of Northern Region Engineering Export Promotion Council of India. She is a past Chairperson of the Confederation of Indian Industry (CII), Punjab and is also the Member of the board of CII Northern Region. Apart from this, she is also Convener for Education and Skilling Panel of the Confederation of Indian Industry (CII), Punjab and is on Board to Punjab Technical University.
Mrs. Aggarwalla is a Brilliant Orator and an excellent motivational speaker. She is a certified Empowerment Life Coach & Master Spirit Life Coach and also a founding member of Coach Grab services Pvt. Ltd. She is a member of District Child Welfare Council, Jalandhar. She is a founder of “Edumust” a non-profit NGO with the motive of providing conducive learning environment and state-of-the-art infrastructure in schools for rural and slum children. (An initiative on the lines of the ‘Smart School Programme’ of Government of India.). Four schools are in the Edumust ambit at present. She has set an example for many to follow.

Mr. Sachin Nithyanand Kamath

Nominee Director

Specialization : Banking and Finance
Mr. Kamath is an experienced Global Asset Manager with a stellar track record in managing multi-million dollar investment across geographies and asset classes. He is one of the founder members of Kitara Capital International Limited. He started his career in 1985 with ICICI Limited and completed his Chartered Accountancy in 1989. He has worked in various position in the field of investments for Paradigm Investments Pvt Ltd; BOI Mutual Fund and JV Gokal Group in India before he left to join Ajit Khimji Group of Companies in Oman as Chief Investment Officer. He has headed and managed the investment division of the group for over a decade involving turnover of assets above US$450 million across various asset classes and countries viz: US, UK, France, China, Middle East, Singapore and India.

Mr. Parveen Kumar Gupta

Independent Director 

Specialization : Banking and Finance
Mr. Gupta has vast experience in the banking sector of over 37 years. He retired as managing director, retail and digital banking, from State Bank of India (“SBI”) and held various positions in the “SBI Group” including managing director, compliance and risk, SBI, whole-time director, SBI, managing director and chief executive officer, SBI Capital Markets Ltd, deputy managing director and chief financial officer, global markets, SBI, deputy chief executive officer, SBI-MACQUARIE Infra. Mgmt. (P) LTD., and chief general manager, global markets, SBI.

Further, He is currently Part Time Non-Executive Chairman of Utkarsh Small Finance Bank, and Director on the Board of BOI AXA Investment Managers Private Limited, Light Microfinance Private Limited and Protium Finance Ltd.

He holds a bachelor’s degree in commerce from Guru Nanak Dev University and is an associate member of the Institute of Company Secretaries of India. He is also a certified associate of the Indian Institute of Bankers.

He was a member of the expert committee on Micro, Small & Medium Enterprises, headed by Mr. U.K. Sinha, former Chairman of the SEBI, constituted by RBI.

Mr. Ashwani Kumar Jindal

Independent Director

Specialization: Auditing and Taxation
Mr. Ashwani Kumar Jindal is a recognized member of the Institute of Chartered Accountants of India. He has an immense knowledge and experience in NBFC Audits, RBI matters, Income Tax & GST and Auditing. He executed Central Statutory Audit of Amritsar Central Co-operative Bank for several years. He is Co-opted Member of Internal Audit Standard Board of ICAI for the year 2020-21 and remained co-opted member of Committee of Members in Industry & Business of ICAI for the year 2019-20.

He remained Co-opted member of Board of Studies of ICAI for the years 2016-2019. He remained as Chairman of Jalandhar Branch of NIRC of ICAI for three years in 2006, 2009 and 2013-14. He is Founder member and General Secretary of Chartered Accountants Association. He is also General Secretary of Income Tax & GST Bar Jalandhar.

Mr. Santokh Singh Chhokar

Non-Executive Director

Specialization: International Laws
Mr. Santokh Singh Chhokar, graduated in medical and social sciences from the University of London and subsequently completed the Law Society’s Post Graduate Diploma in Law and passed the Law Society’s Finals with honours in 1992.
Whilst at University he was involved in student union activities and was elected President of the National Union of Asian Students two years in succession.
Since 1994 he has been Senior Partner in Chhokar & Co Solicitors based in the United Kingdom with associate offices in the United Arab Emirates. He is an accredited Will Writer registered with Dubai International Financial Centre (DIFC).
He is a long-standing member of the Solicitors’ Family Law Association, and the International Bar Association. He has been a Fellow of the Royal Society since 2005
He has served as Honorary Treasurer and President of the Middlesex Law Society.
He takes an active interest and participates in community affairs. He has served as Chairman of the Trustees of the Sikh Missionary Society (UK) and General Secretary of India Association and the Sikh Forum International. He has acted as legal adviser to various charities and as a governor of several schools.
He has a long track record of involvement in local government, having served as Chairman of South Bucks District Council for two years. Currently, He serves as a Councillor in Buckinghamshire Council and as Chairman of Denham, Gerrards Cross and Chalfonts Community Board.
He is also active in supporting his family’s philanthropic projects and initiatives (including women empowerment, sports and education) in the United Kingdom, India and United Arab Emirates.

Management

Mr. Amitesh Kumar

Chief Operating Officer & Chief Financial Officer (COO & CFO)
Qualification: B.Sc. (Horticulture), MBA (Agri-Business and Rural Management)

Mr. Amitesh Kumar who is founding Executive team member of Midland Microfin ltd is a highly accomplished, versatile, socially oriented Microfinance development professional having 15+ years of diversified and progressive experience with expertise in sales and Marketing, Business development, accounting & financial management, Fund Raising, management reporting, compliance, risk management and more. His Area of interest also includes Operations Management, Revenue Expansion, Retail Banking Operations, Employee Retention, Portfolio Management, Vast Research experience, Training & Development and People Management with proven track record of delivering consistent business results through adept leadership and application of sound management practice.

He has been instrumental in setting up and implementing strategic goals for the institution, since inception of Midland in 2011. A proven leader who is strategically strong, adheres to tenacity and possesses a positive attitude for every situation.

Mr. Amitesh has been recognized as Top 5 CFO in Finance – 2019 by CEO Insights Magazine & 10 best CFOs in India 2023 by TradeFlock Magazine.

Mr. Gagandeep Sharma

(Chief Technology Officer)
Qualification: Post Graduation – MCA

Mr. Gagandeep Sharma, with 18 years of extensive experience in the field, has held various key roles in renowned organizations throughout his career. His impressive professional journey includes notable positions at A.S Software Services Pvt Ltd, StarAgri Finance Ltd, Indiabulls Housing Finance Services Ltd, and ICICI HFC Ltd.

Currently, Mr. Sharma serves as the Chief Technology Officer at Midland Microfin Limited, where he plays a crucial role in overseeing and managing the organization’s technology operations. With his vast knowledge and expertise, he ensures that all technology initiatives align with the company’s established goals and objectives.

In addition to his technical proficiency, Mr. Sharma is highly skilled in devising and implementing effective IT policies and systems. He approaches this aspect of his role with utmost professionalism, ensuring that all policies and systems are tailored to meet the specific needs and requirements of the organization.

With his wealth of experience and dedication to excellence, Mr. Gagandeep Sharma continues to make significant contributions to the IT field and drive technological advancements within Midland Microfin Limited.

Mr. Sumit Bhojwani

(Company Secretary)
Qualification: M. Com, ACS, LL.M., DIPR, DIA & C.ESG

Mr. Sumit Bhojwani is a qualified Company Secretary, and he has more than 9+ years’ experience. He is also an Executive member of Ludhiana Chapter of NIRC of ICSI. He has experience of handling all sorts of Secretarial compliances. He is overseeing Corporate Compliance Program under various Laws and Regulations i.e. SEBI, Reserve Bank of India, FEMA and others. Simultaneously, he is also responsible to ensure that the organization is in compliance with rules and regulations of regulating agencies and that behaviour in the organization meets the company’s standards of conduct.

Kapil Ruhela

(Chief Compliance Office)

Qualification: Post Graduation – Business Administration, B.Com, Law

Kapil Ruhela is a compliance and secretarial professional with over a decade of experience in the corporate sector. He has an extensive and in-depth knowledge of various laws and regulations that governs business activities of different sectors, especially those related to the Securities and Exchange Board of India (SEBI), the Reserve Bank of India (RBI), the Foreign Exchange Management Act (FEMA), the Companies Act, and the listing norms of the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). He is an associate member of the Institute of Company Secretaries of India (ICSI).

He has proficiency and excellence in various aspects of compliance and secretarial functions, such as ensuring adherence to statutory and regulatory requirements, formulating and executing policies and procedures, conducting audits, inspections, and implementing best practices of corporate governance

Mr. Gagandeep Sharma

(Deputy Vice President – Insurance)
Qualification: B. Com, CA Inter, LLB

A law graduate & CA Inter, Mr. Gagandeep Sharma with over 28+ years of experience in Income Tax, audit contributes towards developing a strict internal control system in the company by establishing standardized audit systems, processes and provided strategic mentoring and intensive, operational hand-holding support to legal and audit team.

He carries extensive experience in contracts, dispute resolution, regulatory compliance & documentation, corporate advisory, anti-trust etc. along with proficiently working with business teams and lawyers in India.
With his wide knowledge of regulatory compliance and risk management in the financial sector, he spearheads the legal team at the company.

Mr. Maninder Kumar

(Assistant Vice President – Credit & Product)
Qualification: Bachelor of Arts

Mr. Maninder Kumar has joined Midland Microfin Limited at the start of its operation in November 2010. He has an enriched experience of 10 Years in the Microfinance industry. With his vast knowledge and experience, he has contributed toward the designing of processes, policies and products. Mr. Maninder drives backend Business operations, process, credit, compliance, analytics tasks. Presently he is working as Associate Vice President-Credit and leading our efforts in Credit monitoring and its granting process, Risk analysis, Researching and developing appropriate methodologies and processes to establish Risk Appetite including updating, implementation and suggestions of policies and procedures thus helping the company to meet its business targets and risk management goals.

Partners

Equity Partners

Insurance Partners

Rating Partners

Technical Partners

Credit Bureau’s

Self Regulatory Organizations

Banks

Financial Institutions

Network Organization

Auditors