1. finance

Mega Panel Discussion
DREAM. STRIVE. SUCCEED.
Venue: JW Marriot Marquis, Business Bay, Dubai
February 7, 2015 - 4pm to 9pm
Institute of Chartered Accountants of India
Institute of Chartered Accountants
India Chapter
UAEof(Dubai)
UAE (Dubai) Chapter
An overview of ICAI Dubai Chapter
The Institute of Chartered Accountants of India (ICAI) is a statutory body established
under the Chartered Accountants Act 1949, for the regulation of the profession of Chartered Accountants in India. During its 66 years of existence, ICAI has achieved recognition as a premier accounting body not only in India but also globally, for its contribution
in the fields of education, professional development, maintenance of high accounting,
auditing and ethical standards. ICAI now is the second largest accounting body in the
whole world.
The ICAI–UAE (Dubai) Chapter established 33 years ago, is the largest and one of the
most active overseas Chapters of ICAI. The various technical, social and community
development programs undertaken by the Chapter in these past years have been a great
success. The resurgence of the economy and business environment in the UAE coupled
with the recent government initiatives and regulations to promote the all-round growth
in the country is bound to pose new challenges to the profession.
Mark your Calendar - Upcoming Events
February
Feb 21, 2015
Motivational session by Shiv Khera “Winners Don’t
Do Different Things, They Do Things Differently”
Joint event of Dubai and Abu Dhabi Chapter
Mar 01, 2015
Review of Indian Union Budget 2015-16
Mar 20, 2015
Annual Social Get-together
Apr 30 - May 01, 2015
Annual International Conference
Institute of Chartered Accountants of India
UAE (Dubai) Chapter
Programme Schedule
4.00 pm to 5.00 pm
Registration
Networking
Refreshments
5.00 pm to 6.00 pm
Welcome Note
Address by the Chief Guest
Mr. Fahad Al Gergawi, Chief Executive Officer, Dubai FDI
Felicitating the Pravasi Bharatiya Samman 2014 awardees from UAE,
Mr. Bharat Bhai Jayantilal Shah and Mr. Ashraf Palarkunnummal
6.00 pm - 7.00 pm
Panel Discussion 1
"No More a Secret"
7.00 pm - 8.00 pm
Panel Discussion 2
"Dare to Dream"
8.00 pm - 9.00 pm
Panel Discussion 3
"Determined to Succeed"
9.00 pm
Dinner
Institute of Chartered Accountants of India
Institute
Chartered Accountants of India
UAE
(Dubai)ofChapter
Dubai Chapter
Chief Guest
Mr. Fahad Al Gergawi, CEO, Dubai FDI
Fahad Al Gergawi was appointed by the Government of Dubai as Chief
Executive Officer of Dubai FDI, the foreign investment promotion
agency in the Department of Economic Development (DED), in 2008
after he successfully led international business development initiatives
for strategic organizations in the emirate.
Al Gergawi also serves as the Secretary General of the Dubai Green Economy Partnership, aimed
to consolidate and integrate green initiatives and clean technologies into Dubai’s core economic
competencies.
Fahad Al Gergawi brings a wealth of experience into his role at Dubai FDI. He is also one of the first
graduates of the elite Mohammed Bin Rashid Program for Young Business Leaders, a member of
the Young Arab Leaders Foundation UAE chapter and the MENA Director of the World Association
of Investment Promotion Agencies (WAIPA).
A Communications graduate of the UAE University, Al Gergawi started his career in the Exhibition
Department of the Dubai World Trade Centre in 1994. A year later, he moved to the Dubai Chamber
of Commerce and Industry as Executive Director for Trade and Industrial Development. Remaining
in that role till 2004, Al Gergawi played a stellar role in the creation of various first-of-its kind
business groups and councils in Dubai. He was also instrumental in helping Chamber members to
expand their business internationally and promoting business opportunities in Dubai across
numerous trade and economic forums as well as international missions.
Between 2004 and 2008 Al Gergawi was part of Dubai Holding as Executive Director of International Business Development at the Dubai Properties Group (DPG). He succeeded in creating global
opportunities for DPG and attracting a wide range of international businesses, partners and investors into the Group’s ventures.
In his current role, Al Gergawi is focused on placing Dubai firmly on the global FDI map, by attracting regional and international investors to leverage opportunities across the various industries and
sub-sectors in the emirate, and developing closer co- operation with key international investment
partners.
Institute of Chartered Accountants of India
UAE (Dubai) Chapter
Pravasi Bharatiya Samman 2014 awardees
Mr. Bharatbhai Shah
Entrepreneur and philanthropist Bharatbhai Shah was born in
Gujarat and moved to Yemen at the age of 15 to pursue his studies,
before landing a job as a clerk in a shipping firm in 1949. Among his
co-workers at the time was the late industrialist Dhirubhai Ambani.
Over the next decade, Shah’s business acumen saw him flourish in
the retail trade. He shifted base from Yemen to Saudi Arabia and
finally to the UAE, where his friendship with Ambani led to his appointment as a Middle East
coordinator for Reliance in 1985.
Shah launched his own business, Al Mustaneer Trading, shortly after. As a founding member
of the Overseas Indians Economic Forum Dubai and the Gujarati Samaj, Shah’s community
standing has seen him actively crusade for the underprivileged, while fighting for the rights of
non-resident Indians (NRIs) based in the UAE. Well known for his philanthropic activities,
Bharatbhai Shah’s doors are open 24/7 to people who come to him for help. Active in the
Indian community, Shah is the Convenor of the NRI cell of the Indian Business and Professional
Council, Sharjah.
Mr. Ashraf Palarkunnummal
Ashraf Palarkunnummal mostly known as Ashraf Thamarassery (his
native village in Kerala), who runs a workshop in Ajman, has helped
sent home dead bodies of people from over 35 countries, without
receiving any payment for the service.
Ashraf realized the plight of grieving families in completing the formalities to repatriate their loved ones’ bodies when he saw two youngsters
crying in front of their father’s corpse without knowing what to do.The
painful incident he witnessed at Kuwaiti Hospital 14 years ago changed his life.
If witnessing a single death is agonizing for many, he has witnessed more than 2000 deaths and
the agony of family members who often turn helpless against formalities. He alleviates the
hassles of such families who are already in pain because of the loss of their loved ones.
Already a recipient of recognitions from various expatriate organizations and Indian media
houses, Ashraf has also inspired a book and a movie. UAE-based Malayalam writer Basheer
Thikkodi wrote the book Paretharkkoraal on Ashraf’s life, based on which famous director
TA Razak is making the movie.
Institute of Chartered Accountants of India
UAE (Dubai) Chapter
Institute of Chartered Accountants of India
UAE (Dubai) Chapter
"No More a Secret"
Pioneers on their uphill climb to the top
Panelists :
Padma Shri Dr. BR Shetty, CEO & Managing Director - NMC Group and UAE Exchange
Mr. P. N. C. Menon, Chairman Emeritus - Sobha Developers
Padma Shri Dr. Azad Moopen, Chairman & Managing Director - Aster DM Healthcare
Moderator: CA. Anil Bhardwaj
"Dare to Dream"
Young Entrepreneurs on how they made the difference
Panelists :
Mr. Yogesh Mehta, Managing Director - Petrochem Middle East
Mr. Siddharth Balachandran, Executive Chairman & CEO - Buimerc Corporation
Mr. Eugene Mayne, CEO - Tristar Group
Moderator: CA. V.P. Nagarajan
“Determined to Succeed”
Prominent CAs on what made them count
Panelists :
CA. Sanjay Manchanda, CEO - Nakheel PJSC
CA. Sudhir Kumar Shetty, President - UAE Exchange
CA. Riyaz Peermohamed, Chief Aircraft Acquisition and Financing Officer, IndiGo Airlines
Moderator: CA. Abbas Ali Mirza
Institute of Chartered Accountants of India
UAE (Dubai) Chapter
Institute of Chartered Accountants of India
UAE (Dubai) Chapter
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An optimist by nature, Dr. Shetty came to the UAE in 1973 in search of
greener pastures and went on to become the pioneer of private healthcare sector with NMC, which was established in 1975. Under his able
leadership an array of service-oriented businesses have flourished, such
as Financial Services and Money Remittances, Hospitality, Information
Technology, Education, Food, Pharmaceuticals, Medical-Scientific Equipment and FMCG Brands.
NMC Healthcare is the UAE’s largest private healthcare provider with
twelve healthcare facilities of which three are JCI accredited specialty
Dr. B. R. Shetty
hospitals, catering to over 2 million patients a year. A state-of-the-art
CEO & Managing Director
pharmaceutical manufacturing plant, Neopharma, was set up in 2003.
NMC Group and UAE Exchange
UAE Exchange which was set up in 1980 is a leading global remittance and
foreign exchange brand with a presence in over 32 countries with 750 direct offices. NMC trading has
exclusive rights for the distribution of some of the premier brands from around the world, including
Nivea, 3M, Siemens, Abbott, Pfizer, Kiwi, Brylcreem, Unza, Pharmaton, Fem, Pears, Dial, Unilever, Sara
Lee and Neocare among others.
Awards and recognitions include the Order of Abu Dhabi by the Government of Abu Dhabi (2005),
Padma Shri by the Government of India (2009), First-Ever Swiss Ambassador’s Award 2008, PravasiBhartiya Samman Award (2007) and Forbes Middle East Top Indian Leader in 2013.
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Mr. P.N.C. Menon
Chairman Emeritus
Sobha Developers
P.N.C. Menon is the founder of Sobha Group of companies. The life story
of the self-made, first generation businessman cum philanthropist is an
inspiration and motivation to a number of aspiring young entrepreneurs
and commoners alike.
His business empire in Oman, which had a humble beginning in 1976 later
on flourished and expanded to the U.A.E., Bahrain and Qatar, with an
unmatched reputation for quality construction and interiors.
Seeing the potential in the Indian real estate market, which was in dire
need of quality construction, he founded Sobha Developers in Bangalore
in 1995. The company built its foundation on international quality
standards and value systems and has created an unparalleled name in the
Indian real estate industry.
The Dubai operations, which started mainly as a contracting company, ventured into real estate
development in the year 2006 and has now become one of the most respected companies in Dubai.
The Sobha Group has recently launched a joint venture project in equal partnership with the reputed
Meydan Group to build Mohammed bin Rashid City - District One in the heart of Dubai. The project
will be built in over 1,100 acres of land with an area covering 47 million sq. ft. of development.
Menon is the recepient of the prestigious Pravasi Bharatiya Samman Puraskar in 2009, ‘Golden
Peacock Lifetime Achievement Award for Business Leadership’ by the Institute of Directors (IOD),
‘Lifetime Achievement Award’ by NDTV Profit and ‘Brand Icon Award’ by Times of India.
Institute of Chartered Accountants of India
UAE (Dubai) Chapter
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Institute of Chartered Accountants of India
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Dr. Azad Moopen, Chairman & Managing Director of Aster DM Healthcare,
is a Physician-turned Businessman and Philanthropist. He started his
career as a Lecturer at Medical College, Calicut, India, before relocating to
Dubai. He is a Gold Medalist in Medicine and Post-Graduate in General
Medicine and Chest diseases.
In 3 decades of his professional career, Dr. Moopen has established the
largest network of healthcare facilities in GCC consisting of Hospitals,
Medical Centres & Pharmacies, covering wide spectrum of services,
starting from Primary Care to Quaternary Care. Through its brands
Dr. Azad Moopen
“ASTER”, “MEDCARE”, “ACCESS”, “MIMS”, “ASTER MEDCITY”, “DMWIMS”
Chairman & Managing
etc., with a corporate motto “Care Beyond Boundaries”, Dr. Moopen has
Director Aster DM Healthcare
made quality healthcare affordable and accessible to various sections of
society. Employing over 10,000 staff, Aster DM Healthcare provides healthcare service in 8 countries
through more than 230 establishments.
Awards and recognitions include Padma Shri by the Government of India (2011) Arab Health Award by
Arab Health Forum for his outstanding contributions to the Middle East healthcare industry(2010),
Pravasi Bharathiya Samman by Government of India (2010), ‘Best Doctor Award’ (in 2009) by the
Government of Kerala and Aster DM Healthcare was recognized in 2012 as amongst the 400 Emerging
Champion Companies of the World by the World Economic Forum.
Moderator
Anil Bhardwaj is a Chartered Accountant by profession and a founder
member and past Chairman of the Dubai Chapter of the Institute of
Chartered Accountants of India.
After having spent some years with Whinney Murray (now Ernst & Young),
he joined Al Moosa Enterprises LLC, Dubai (The Arenco Group), a diversified conglomerate with interests in real estate, hotels, manufacturing,
architecture designing, services and trade.
The Group pioneered the hotel apartment concept in Dubai over two
decades ago. Anil represented the owner in the negotiation and finalization of the management agreements with the operators whose range
covers almost all of the top global names.
CA. Anil Bhardwaj
Director at Arenco Group
He, inter alia, sits on the Board of most of the Group companies including the hotel management
company.
A keen speaker at professional events, he spends his spare time dabbling in Indian Music.
Institute of Chartered Accountants of India
UAE (Dubai) Chapter
Institute of Chartered Accountants of India
UAE (Dubai) Chapter
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Mr. Yogesh Mehta
Driven by passion and a need to succeed, Yogesh Mehta established
Petrochem Middle East in 1995.
Yogesh graduated with a Bachelor of Science in Chemistry from National
College Bandra in Mumbai, India, and his first job was at his father’s
chemical manufacturing factory in western India, where he honed his
innate leadership skills and gained valuable hands-on business experience. Yogesh then went on to open his own chemical trading business,
which enjoyed fair success. Mr. Yogesh relocated to Dubai in 1990.
Managing Director
Petrochem Middle East
Within five years, he managed to establish a business by opening a
state-of-the-art storage terminal for bulk and drum chemicals. Petrochem
Middle East has since grown from strength-to-strength to become one of the largest independent
petrochemical distributors in the Middle East.
Under Yogesh’s leadership, Petrochem Middle East has evolved into one of the largest independent
petrochemical distributors in the Gulf. Mr Mehta is credited with an ability to carve water out of
stone, a burning desire to succeed against odds, with a do or die attitude, having established a
business by opening a state-of-the-art storage terminal for bulk and drum chemicals in 1995 and
create barriers to entry.
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Mr. Siddharth Balachandran
Siddharth started his career in Chennai in 1999 as a Strategic Accounts
Manager at Dun & Bradstreet Information Services, the world's leading
source of commercial information and insight on businesses. However,
keen to explore new avenues and determined to carve a niche of his own,
Siddharth relocated to the UAE in 2001 and set up Bumga FZCO in Jebel
Ali, dealing in a variety of construction materials.
In a short span of four years, Siddharth went on to set up several ventures
in India and the UAE, firmly establishing himself as a respected entrepreneur and a successful corporate strategist.
A highly respected entrepreneur and the successful corporate head of
Buimerc Corporation and it's subsidiary companies in UAE and India,
Siddharth is also a passionate philanthropist who firmly believes in giving back to the community. On
several occasions he has been at the forefront of helping those who are less fortunate, several of
which have come in for appreciation from senior dignitaries and government authorities.
Executive Chairman & CEO
Buimerc Corporation
Siddharth was elected Chairman of India Club, Dubai in 2010. At 33 years, he was the youngest ever to
be accorded this honour in the history of India Club, and continues to be a Trustee.
Siddharth is one of the Chief Patrons of Indian Social and Cultural Centre, Abu Dhabi.
Institute of Chartered Accountants of India
UAE (Dubai) Chapter
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Institute of Chartered Accountants of India
UAE (Dubai) Chapter
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Eugene Mayne arrived in the UAE in 1976 with a degree in finance from
Bangalore University. He started his professional career with Caltex
Alkhalij in 1976 and took early retirement in 1998 to set up his own
company.
Mayne was determined to build a company with a difference and so
Tristar Transport was established where issues related to health, safety
and well being of all were accorded top most priority. So with three used
trucks, Mayne took a leap of faith and the rest is history.
Mr. Eugene Mayne
Today Tristar has a fleet of more than 1,000 vehicles moving more than 1
million tonnes of petroleum and chemical products a year with 1,800
employees of various nationalities, Tristar has an operating presence in 13
countries posting revenues of over 300 million US dollar a year.
CEO Tristar Group
Backed by his leadership and entrepreneurial spirit, the company has been consistently growing at a
CAGR of +20% since inception and has today, a diversified portfolio of services ranging from road
transport, warehousing of dangerous goods and chemicals, management and operation of fuel farms,
turnkey fuel operations, and into –plane aviation fuel services, as well as ship owning and chartering
for movement of petroleum products by sea.
Moderator
V.P. Nagarajan is a member of the Institute of Chartered Accountants of
India. He is also a member of the Institute of Cost and Works Accountants
of India and the Institute of Company Secretaries of India.
Currently Mr. Nagarajan is the Executive Director with the ETA Group,
Dubai.
He was the Chairman of the Dubai Chapter of the Institute for two terms
2007-2008 and 2008-2009. During his tenure, Mr. Nagarajan came up with
a Chairman Roster listing out the names of the Chairmen of the Dubai
CA. V. P Nagarajan
Chapter to be displayed at the local premises of the Institute. During his
Executive Director ETA Group
term, the Chapter arranged an excellent galaxy of speakers to bring
members up to date on topics of current interest.
As a means of closer engagement with the Consulate General of India, Mr. Nagarajan had organized
joint programs with the Indian Consulate which was well attended and appreciated.
Institute of Chartered Accountants of India
UAE (Dubai) Chapter
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Institute of Chartered Accountants of India
UAE (Dubai) Chapter
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Sanjay Manchanda is the CEO of Nakheel PJSC, world’s leading developers
and a key player in realising the vision of Dubai for the 21st century.
Born in Vienna and educated in India, Sanjay is a fellow member of the
Institute of Chartered Accountants of India.
CA. Sanjay Manchanda
CEO - Nakheel PJSC
Prior to joining Nakheel, Sanjay spent 25 years working in the Middle East
as a partner at leading global accounting advisory firm PricewaterhouseCoopers (PwC), where he gained a deep understanding of the region’s
business, commercial and regulatory environment.
Amongst the many achievements at PwC, Sanjay was instrumental in the
successful financial restructuring of leading jewellery retailer Damas – the first private company in the
Middle East to undergo a financial restructuring exercise.
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CA. Y. Sudhir Kumar Shetty
President UAE Exchange
Sudhir Kumar Shetty is the President of UAE Exchange, the leading global
money transfer, foreign exchange and payment solutions brand. A true
veteran in the remittance industry, Sudhir Shetty has been leading UAE
Exchange, since 1991. During these 24 years with the company, his charismatic leadership, technological know-how and operational expertise have
transformed UAE Exchange into a truly global brand.
Sudhir Shetty completed his Bachelor's degree in Commerce & Law from
the University of Mysore and also completed his Chartered Accountancy
from the Institute of Chartered Accountants of India. In 1990, Sudhir
Shetty joined NMC Group as Internal Auditor and within a year was elevated to the helm of UAE Exchange.
Today acclaimed as the World's Trusted Money Exchange, UAE Exchange is one of the leading global
money transfer, foreign exchange and payment solutions brand, globally. Its fast growing international
presence spans 32 countries across five continents, with over 750 direct offices. UAE Exchange also
has strong correspondent banking relationship with close to 150 global banks. Over 9000 UAE
Exchange personnel, across the globe, representing over 40 nationalities, serve more than 7.9 million
customers.
Sudhir Shetty is known for his multifaceted personality encompassing leadership, business, social
work & philanthropic activities, promotion of culture, education and sports.
Institute of Chartered Accountants of India
UAE (Dubai) Chapter
Institute of Chartered Accountants of India
UAE (Dubai) Chapter
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Riyaz Peermohamed joined low cost airline start up IndiGo in Delhi in May
2006 as Chief Financial Officer and was a part of core team which set up the
airline and established it as a highly profitable low cost airline in India. From
July 2014 he has been given a new responsibility as Chief Aircraft Acquisition
and Financing Officer.
At IndiGo he is a member of a core group including shareholders and Directors
that runs the airline. He is responsible for Aircraft acquisition, financing and
fleet planning and raised financing for 100 A320 aircraft (circa USD 4 billion)
and PDP financing.
CA. Riyaz Peermohamed
Prior to joining IndiGo, Peermohamed was with Emirates in Dubai where he
Chief Aircraft Acquisition and
was a member of the core group that ran the airline. He joined Emirates in
Financing Officer, IndiGo Airlines 1989 when it had just two Airbus aircraft and was instrumental in its growth
plans until 2006 when its fleet was 92 aircraft. His last position held with Emirates was Senior Vice President
– Corporate Treasury.
He raised financing for more than 100 wide body aircraft for Emirates (circa USD 15 billion) and pioneered
Islamic leases. At Emirates, he completed three ground breaking bond issues to raise more than USD 1.5
billion, including one Islamic sukuk.
Prior to Emirates he worked with chartered accountancy firm KPMG in Dubai. Peermohamed holds a Bachelor of Science (Chemistry) from Bombay University, is a Chartered Accountant (India) and a Chartered
Financial Analyst (USA).
Moderator
CA. Abbas Ali Mirza
Audit Partner
Deloitte & Touche (ME)
CA Abbas Ali Mirza who was elected Chairman of ICAI Dubai Chapter for
three terms, works as Audit Partner with Deloitte & Touche (ME). He is the
Past President and currently Board member of Indian Business & Professional Council (IBPC), Dubai.
Abbas Ali Mirza has made his presence felt in the industry and society as
the Chairman - 21st session of UNCTAD's Intergovernmental Working
Group of Experts on International Standards on Accounting & Reporting
(ISAR), United Nations, Chairman -Dubai Chamber of Commerce’s
Auditors Group, Formerly Member - Accounting Standards Committee,
Securities and Exchange Board of India (SEBI) and Formerly Member Developing Nations Committee.
Institute of Chartered Accountants of India
UAE (Dubai) Chapter
The Institute of Chartered Accountants of India
UAE (Abu Dhabi & Dubai) Chapters
Proudly Present
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Dubai Men’s College, Academic City, Dubai
Saturday, February 21, 2015 - 2.30pm to 6.30pm
Institute of Chartered Accountants of India
UAE (Dubai) Chapter