Midland Microfin Limited

First Microfinance Institution
of the Region

07:24 AM Friday, 07 August 2020

1800 137 0600

Toll Free
* 9:00 AM to 5:30 PM

Midland Microfin Limited

First Microfinance Institution of the Region

1800 137 0600 Toll Free * 9:00 AM to 5:30 PM

About Us

  • Company


    Type of Organisation

    Midland Microfin Ltd is an ‘NBFC-MFI’ registered with the Reserve Bank of India (RBI registration No. B-06.00458) having Head Office at Jalandhar, Punjab to deal in microfinance in India.

    Net Worth

    The present Authorized Share Capital of Midland Microfin Ltd is Rs 5,700 lakhs. The Tier II Capital of the company as on Dec 31, 2019 is Rs 3944.27 Lakhs and the Net Worth of the company as on date is Rs 13298.64 Lakhs.

    Total Assets

    The value of Total Assets of Midland Microfin Ltd as on Dec 31, 2019 is Rs 91639.24 Lakhs.

    Information Technology

    Keeping in line with its vision of being a technology savvy MFI, the company after studying different softwares in the industry,MML has tied up with ‘Jayam Solutions’ for a web based, centralised software solution.Jayam Solutions is a leading Software Solutions and Service provider in the Global market providing Business solutions.It is one of the best softwares for MFIs which takes care of complete processes of the microfinance business.Efimo is the latest version from Jayam Solutions. It is designed to handle large volume of accounts and transactions. It is equipped with customizable modules, menu driven interface, rich parameters van run on any standard browser. Efimo is a scalable solution that allows the MFIs and Banks to continue to support their growing business requirements.

  • 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

    Mr Amardeep Singh Samra is the Managing Director of Midland Microfin Ltd which is the first Punjab based Microfinance Institution and is one of the leading MFIs in the states of Punjab,Chandigarh, Haryana , Rajasthan , UP and Bihar having more than three lakh customers at present. He is passionate about microfinance, hence introduced this concept in Punjab & neighbouring states of Punjab and Northern 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 the area. In a short span of 8 year Midland Microfin has achieved exemplary landmarks including excellent asset quality.

     Mr. Samra has a specialization in Finance, Marketing and Administration. He has introduced various innovative ideas in the business, which helped it to grow manifold. He is the Co-ordinator of Punjab & Haryana Finance Co’s Association, the prestigious body of major NBFCs in North India.

    Socio-Economic Activities

    He has tremendous interest in Photography and art. He takes part in regional and international photo exhibitions – Highlighted heritage buildings of Punjab through his photographs. He takes keen interest in sports activities & Architecture. He is a keen runner and regularly takes part in marathons across India. Member of Photographic Society of America (PSA) and life member of Bombay Natural History Society (BNHS). 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.


    Mr. Harpal Singh

    Director
    Specialization : Finance and Accounts
    Mr. Harpal Singh is educated at St Helen’s College and John Lyon School Harrow and graduated from the University of East Anglia in Accounting and Law in the UK. He qualified as a Chartered Accountant with Grant Thornton. Subsequently Mr. Harpal Singh has worked as a Manager in the Investment Management, Assurance and Audit department of PricewaterhouseCoopers (PWC) in Los Angeles, California and London. He is a fourth generation NRI whose family has kept and continues to keep a keen and committed interest and involvement in the economic and social development of Punjab in particular and India in general. He is also a Member of the Institute of Chartered Accountants of England & Wales.


    Mr Janak Raj Gupta

    Director
    Specialization : Audit and Finance
    Mr. Janak Raj Gupta is a Fellow member of Institute of Chartered Accountants of India. He has a rich experience for carrying out the work of Manufacturing and Service Companies including Audit of Non-Banking Finance Companies governed by Reserve Bank of India.


    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 Kamath

    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.


  • Management


    Mr. Amitesh Kumar

    (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 12 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

    Amitesh Kumar, who started his career journey as an Area Manager for an MFI, today is well known for his proficiency & expertise in managing the Operations & Finance Department of MML. Since the inception of MML in 2011, he has been instrumental in setting up and implementing strategic goals for the institution. A proven leader who is strategically strong, adheres to tenacity and possesses a positive attitude for every situation. Blessed with all of these qualities in plenitude Amitesh Kumar, CFO, has been recognised as Top 5 CFO in Finance-2019 by CEO Insights Magazine.


    Mr. Gagandeep Sharma

    (DVP – Legal & Audit)
    Qualification : B.Com. CA Inter, LLB
    Mr. Gagandeep Sharma is B.COM, CA Inter and LLB qualified. He has worked as Income Tax consultant for 7 years. In addition, he also has got 8 years of experience in the audit of various NBFCs. He joined MML at the start of operations in Dec 2010. With his vast knowledge and experience of 16 years he has contributed towards developing a strict internal control system in the company. He has taken initiatives to, establish standardized Audit systems and processes, and provided strategic mentoring and intensive, operational hand-holding support to Audit team.
    Mr. Gagandeep Sharma can help the management team understand and helps to measure gaps between the company’s risk profile and its appetite which is an important aspect as a lender in any lending business. He has wide knowledge and skills needed to understand and support regulatory compliance and enterprises wide risk management in the Finance sector.


    Mr. Ashish Tripathi

    (DVP – Credit & Risk)
    Qualification : MBA (Rural Development), Lead Auditor (ISO 9001:2015)
    Ashish Kumar Tripathi is Master in Rural Development and an IRCA certified lead auditor in ISO 9001:2015 standard. He has in depth experience of more than 11 years in the Microfinance sphere of the country in the various roles in organizations like Bharat Financial Inclusion Limited, Axis Bank and Satin Credit Care Network Limited. He played a vital role in driving growth and managing the portfolio during MFI crisis and post-demonetization stage. In his past position, he has spearheaded the backend Business operations, process, credit, compliance, analytics task as well as managed investor relationships and moved the organization towards robust digital ecosystem. The understanding of the domain is incredible starting from the business operations, system development, Accounts & Finance to the credit, risk along with compliance, process & policy of the microfinance microsphere.
    Presently he is heading the Credit & Risk Department 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 updation, implementation and suggestions of policies and procedures thus helping the company to meet its business targets and risk management goals.


    Mr. Sumit Bhojwani

    (Company Secretary)
    Qualification :M.Com,LLM,DIPR,DIA & CS
    Mr. Sumit Bhojwani, is a qualified Company Secretary and he has more than 6-years experience as a Company Secretary. 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.


  • Partners


    Equity Partners

    Sidbi Kitara

    Insurance Partners

    Kotak ICICI HDFC

    Rating Partners

    Care Sameera Brick

    Technical Partners

    Jayam Esthenos Google Sify

    Credit Bureau’s

    Equifax Highmark Cibil Experian

    Self Regulatory Organizations

    MFIN Sadhan

    Banks

    yes ucho SIDBI SBI
    Mudra kotak indian FIncare
    DCB BOM BOD AUB

    Financial Institutions

    SMC shriram reliance oiko
    northen mas mahindra leylan
    INCRED copri avanse

    Network Organization

    Sunking singer HUL sam
    Dlight assoc aisec

    Auditors

    E&Y

Company


Type of Organisation

Midland Microfin Ltd is an ‘NBFC-MFI’ registered with the Reserve Bank of India (RBI registration No. B-06.00458) having Head Office at Jalandhar, Punjab to deal in microfinance in India.

Net Worth

The present Authorized Share Capital of Midland Microfin Ltd is Rs 5,700 lakhs. The Tier II Capital of the company as on Dec 31, 2019 is Rs 3944.27 Lakhs and the Net Worth of the company as on date is Rs 13298.64 Lakhs.

Total Assets

The value of Total Assets of Midland Microfin Ltd as on Dec 31, 2019 is Rs 91639.24 Lakhs.

Information Technology

Keeping in line with its vision of being a technology savvy MFI, the company after studying different softwares in the industry,MML has tied up with ‘Jayam Solutions’ for a web based, centralised software solution.Jayam Solutions is a leading Software Solutions and Service provider in the Global market providing Business solutions.It is one of the best softwares for MFIs which takes care of complete processes of the microfinance business.Efimo is the latest version from Jayam Solutions. It is designed to handle large volume of accounts and transactions. It is equipped with customizable modules, menu driven interface, rich parameters van run on any standard browser. Efimo is a scalable solution that allows the MFIs and Banks to continue to support their growing business requirements.

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

Mr Amardeep Singh Samra is the Managing Director of Midland Microfin Ltd which is the first Punjab based Microfinance Institution and is one of the leading MFIs in the states of Punjab,Chandigarh, Haryana , Rajasthan , UP and Bihar having more than three lakh customers at present. He is passionate about microfinance, hence introduced this concept in Punjab & neighbouring states of Punjab and Northern 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 the area. In a short span of 8 year Midland Microfin has achieved exemplary landmarks including excellent asset quality.

 Mr. Samra has a specialization in Finance, Marketing and Administration. He has introduced various innovative ideas in the business, which helped it to grow manifold. He is the Co-ordinator of Punjab & Haryana Finance Co’s Association, the prestigious body of major NBFCs in North India.

Socio-Economic Activities

He has tremendous interest in Photography and art. He takes part in regional and international photo exhibitions – Highlighted heritage buildings of Punjab through his photographs. He takes keen interest in sports activities & Architecture. He is a keen runner and regularly takes part in marathons across India. Member of Photographic Society of America (PSA) and life member of Bombay Natural History Society (BNHS). 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.


Mr. Harpal Singh

Director
Specialization : Finance and Accounts
Mr. Harpal Singh is educated at St Helen’s College and John Lyon School Harrow and graduated from the University of East Anglia in Accounting and Law in the UK. He qualified as a Chartered Accountant with Grant Thornton. Subsequently Mr. Harpal Singh has worked as a Manager in the Investment Management, Assurance and Audit department of PricewaterhouseCoopers (PWC) in Los Angeles, California and London. He is a fourth generation NRI whose family has kept and continues to keep a keen and committed interest and involvement in the economic and social development of Punjab in particular and India in general. He is also a Member of the Institute of Chartered Accountants of England & Wales.


Mr Janak Raj Gupta

Director
Specialization : Audit and Finance
Mr. Janak Raj Gupta is a Fellow member of Institute of Chartered Accountants of India. He has a rich experience for carrying out the work of Manufacturing and Service Companies including Audit of Non-Banking Finance Companies governed by Reserve Bank of India.


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 Kamath

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.


Management


Mr. Amitesh Kumar

(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 12 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

Amitesh Kumar, who started his career journey as an Area Manager for an MFI, today is well known for his proficiency & expertise in managing the Operations & Finance Department of MML. Since the inception of MML in 2011, he has been instrumental in setting up and implementing strategic goals for the institution. A proven leader who is strategically strong, adheres to tenacity and possesses a positive attitude for every situation. Blessed with all of these qualities in plenitude Amitesh Kumar, CFO, has been recognised as Top 5 CFO in Finance-2019 by CEO Insights Magazine.


Mr. Gagandeep Sharma

(DVP – Legal & Audit)
Qualification : B.Com. CA Inter, LLB
Mr. Gagandeep Sharma is B.COM, CA Inter and LLB qualified. He has worked as Income Tax consultant for 7 years. In addition, he also has got 8 years of experience in the audit of various NBFCs. He joined MML at the start of operations in Dec 2010. With his vast knowledge and experience of 16 years he has contributed towards developing a strict internal control system in the company. He has taken initiatives to, establish standardized Audit systems and processes, and provided strategic mentoring and intensive, operational hand-holding support to Audit team.
Mr. Gagandeep Sharma can help the management team understand and helps to measure gaps between the company’s risk profile and its appetite which is an important aspect as a lender in any lending business. He has wide knowledge and skills needed to understand and support regulatory compliance and enterprises wide risk management in the Finance sector.


Mr. Ashish Tripathi

(DVP – Credit & Risk)
Qualification : MBA (Rural Development), Lead Auditor (ISO 9001:2015)
Ashish Kumar Tripathi is Master in Rural Development and an IRCA certified lead auditor in ISO 9001:2015 standard. He has in depth experience of more than 11 years in the Microfinance sphere of the country in the various roles in organizations like Bharat Financial Inclusion Limited, Axis Bank and Satin Credit Care Network Limited. He played a vital role in driving growth and managing the portfolio during MFI crisis and post-demonetization stage. In his past position, he has spearheaded the backend Business operations, process, credit, compliance, analytics task as well as managed investor relationships and moved the organization towards robust digital ecosystem. The understanding of the domain is incredible starting from the business operations, system development, Accounts & Finance to the credit, risk along with compliance, process & policy of the microfinance microsphere.
Presently he is heading the Credit & Risk Department 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 updation, implementation and suggestions of policies and procedures thus helping the company to meet its business targets and risk management goals.


Mr. Sumit Bhojwani

(Company Secretary)
Qualification :M.Com,LLM,DIPR,DIA & CS
Mr. Sumit Bhojwani, is a qualified Company Secretary and he has more than 6-years experience as a Company Secretary. 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.


Partners


Equity Partners

Sidbi Kitara

Insurance Partners

Kotak ICICI HDFC

Rating Partners

Care Sameera Brick

Technical Partners

Jayam Esthenos Google Sify

Credit Bureau’s

Equifax Highmark Cibil Experian

Self Regulatory Organizations

MFIN Sadhan

Banks

yes ucho SIDBI SBI
Mudra kotak indian FIncare
DCB BOM BOD AUB

Financial Institutions

SMC shriram reliance oiko
northen mas mahindra leylan
INCRED copri avanse

Network Organization

Sunking singer HUL sam
Dlight assoc aisec

Auditors

E&Y

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