Kumar Ajmera, aged 55, is the son of Mr.
Manikchand Ajmera, a well-known engineer
, civil contractor and a Trustee of Digambar
Jain Udasin Sevashram , Indore. He has garnered
a rare expertise in the entire gamut of
financial services, gaining from a wealth
of experience of over 30 years.
Ajmera graduated in Commerce with a rank
in 1973, from Indore. He moved on to Mumbai
in 1973, to pursue a career in Accountancy
and qualified as a Chartered Accountant
(C.A.) in 1978. He was trained under Nanubhai
& Co. Chartered Accountants, Mumbai,
during his 3-year tenure of articleship,
where his undying quest to learn and excel,
gave him a wide exposure in audit and taxation.
He was given an opportunity to act in a
senior role, lead audit teams and independently
finalise audits of over 50 companies, engaged
in varied business -Manufacturing, Insurance,
Banking and Investment.
After qualifying as a CA, he joined as a
partner in Mittal & Associates, Chartered
Accountants and started project consultancy
work. In 1981, he started his own firm of
Chartered Accountants in the name and style
of M/s. Ajmera & Associates, Chartered
Accountants at Mumbai and was conferred
Fellowship by the Institute of Chartered
Accountants of India. He undertook several
audits, tax planning and computation assignments
for businesses, appeared several times before
assessment and appellate authorities in
connection with tax assessments of companies,
took up various assignments including valuation
of corporates, financial assets, net worth
firm conducted several inspections, special
audits and investigations on behalf of Insurance
Companies, Official Liquidator, UTI &
other Institutions. M/s. Ajmera & Associates
also acquired its name in the field of project
financing during this time.
With the acquired name, knowledge and
insight into the corporate world, Mr.
Ajmera corporatised project consultancy
by setting up Ajmera Financial and Project
Consultants Pvt. Ltd in the year 1986.
The Company was focused on consulting
entrepreneurs and established companies
in new projects and financial resources.
team undertook challenging assignments and
executed projects from scratch; initiating
the plan and preparing detailed project
reports till final disbursement of term
loan and working capital facilities. Efficiently
monitored day-to-day MIS of projects and
proactively resolved hurdles at root level.
Identifying right location sites for a number
of projects and critically evaluating project
feasibility and profitability, added a silver
lining to the Company's creditability.
done by the Company was comprehensive in
nature and included handling all excise
and customs matters, directly dealing with
FERA, RBI, all types of Banks, Financial
and Investment Institutions, Insurance Cos.
Venture Capital Funds, Central and State
Depts., Semi Govt Depts. for and on behalf
of clients ranging from Small Scale Industries
to large Corporates.
Company efficiently executed more than 200
assignments of Project Financing and Loan
Syndication under his stewardship. Mr. Ajmera
gained recognition as a leading project
consultant, possessing strong implementation
skills to transform corporate vision and
strategy into profitable reality.
the year 1984, Mr. Ajmera joined The Indian
Junior Chamber (Jaycees) and was elected
as the Zone President in 1991. He was winner
of several awards & recognition including
"Samaj Shri", "Management
Man of the Year", "Outstanding
Zone President", "Outstanding
President" at Indian Junior Chamber
in India and abroad.
Ajmera pursued his hobby of training people
through out his career. He was certified
as an International trainer by JCI, USA
as an EXCEL graduate and has to his credit
over 250 training programmes. Most programmes
were focused on personality development,
stress management, time management and extended
forward to professional development of a
person. He was sent as a delegate to the
JCI international conferences in Thailand
and Japan and was honored by "Outstanding
participation awards" at these conferences.
also presented a well-researched paper on
the 'Indian economy', with a foreword by
the eminent tax expert and Supreme Court
Advocate, Mr. Y.P Trivedi in Japan before
14,000 delegates in the year 1992, just
after the second budget of Dr. Manmohan
Singh as Finance Minister.
1994, Mr. Ajmera's acute vision and entreprenuership,
led the Company to further expand into capital
markets. Ajmera Financials and Project Consultants
Pvt. Ltd was rechristened as Ajcon Capital
Markets Ltd.("Ajcon") in 1994
to reflect the entire scope of services.
Company, with Mr. Ashok Ajmera as the Chairman
& Managing Director, went public in
1995. The public issue was oversubscribed
by over 25 times demonstrating the faith
and confidence the investment community
reposed in Mr. Ajmera. Simultaneously, Mr.
Ajmera, Certified as a Stock Dealer under
NCFM (NSE), India securing 92.5% marks.
acted as a Category I Merchant Banker for
advising and executing public issues, mergers
and acquisitions, joint ventures, divestment
proposals and private placement of equity.
Designed capital structures for companies,
drafted prospectus and related transaction
documents, filed applications, finalised
agencies and intermediaries, co-ordinated
with SEBI, Exchanges, other regulatory bodies,
registrars, underwriters, advertisers, trustees
etc. Widely marketed several public issues
through intensive road shows across the
country and Dubai and also undertook underwriting
of public issues.
Ajmera, with his proven ability as a trainer,
played a crucial role in training &
developing promoters to face public &
media during launch of their public issues.
addition to project consultancy and merchant
banking, the Company offers broking &
corporate advisory services to several financial
institutions, banks and corporates. The
team provides non-discretionary investment
advisory services on equity, derivatives,
IPOs to HNIs and institutional clients backed
by intensive in-house research.
scope of corporate services includes advising
on formation of all types of Companies (have
formed above 200 companies), capital structuring,
setting up of Corporate Offices, drawing
up administrative and financial manuals,
laying corporate strategy etc. Under guidance
of Mr. Ajmera, challenging assignments on
restructuring and rehabilitation of sick
units, filing of BIFR cases have been undertaken.
The Company has a proven history of turning
around businesses in difficulty by advising
on strategic and financial restructuring.
advising on fund based activities such as
bill discounting, ECB financing, securitisation,
hire purchase, lease financing, factoring
etc. forms a part of the advisory services
offered by the Company. The Company's name
has been changed in 2003 to Ajcon Global
Services Limited, when it signed a M.O.U.
for a tie-up with a U.S. based Indian Chartered
Accountancy firm for providing consultancy
the initial years of NSE, Mr. Ajmera has
significantly contributed to streamline
operations and systems at NSE and has represented
broker community. He has worked closely
with NSE for replacing the then prevailing
badla system by introducing Automated Lending
and Borrowing Mechanism (ALBM). He chaired
the NSE committees for resolving disputes
of members. He addressed and resolved a
large number of disputes over a 3-year term
as the member of Dispute Resolution Committee
(DRC). He was also a Committee Member of
COSI (A hi - power committee of National
Stock Exchange of India (NSE)) for over
3 years and Chairman of various Sub -Committees
formed by NSE from time to time. Was elected
as the Director of Association of NSE Members
(ANMI) for 2 years and was designated as
the Chairman of various Committees of ANMI
viz. Insurance Committee, Public Relations
Committee, Co-ordination Committee, Legal
and Member grievance Committee etc.
has contributed several Articles and interviews
in leading Newspapers & magazines. Leading
media channels, namely, Doordarshan, B.B.C,
Star, Zee, CNBC, NDTV, Sahara, Reuters and
All India Radio interview him on a regular
basis as a Capital Market Expert/ Stock
Analyst. He has had more than 300 appearances
on these channels.
Ajmera has also presented well researched
papers in Universities, Management Institutes,
National & International Seminars on
subjects related to Indian Economy, Capital
Markets, Projects & Finance. He authored
a book on financial planning, published
by the CPE Board of Institute of Chartered
Accountants of India.
the social front, Mr. Ajmera was the District
chairman of Lions Club International, President
of Lions Club of South Bombay , Chairman
of "Clean Bombay Green Bombay",
Managing Committee Member of Nana Chudasama's
"I Love Mumbai" & F.T. Khurakiwala's
Citizen Council for Better Tomorrow (CCBT).
Most importantly, he was appointed by Government
of Maharashtra as a Special Executive Magistrate
for over 6 years.
his qualification, vast experience and expertise
in securities market, he was appointed as
an independent director on the board of
Gilt Securities Trading Corporation (subsidiary
of Canara Bank) in 2004.
to Pragati, daughter of late Seth Shri Shankarlalji
Kasliwal, founder of the well known S.Kumars
Group .Mr. Ajmera is blessed with two sons
Ankit & Anuj. Ankit is a M.B.A. from
U.K. and is married to Pallavi ,a Chartered
Accountant , is blessed with a daughter
Baby.Aanchal. Anuj, an IT professional is
married to Shikha an MBA .