Rajendra P Chitale, managing partner of MP Chitale & Associates, is one of the A-listers in India Inc’s accounting world. He also made his mark in financial structuring, legal and tax issues and regulatory advices through Chitale & Associates, one of India’s leading boutique consultancy firms.
“If you take the top five auditing experts, he will be there in the list. Regulators, government bodies and financial institutions seek his advice on accounting, tax and legal issues. He’s well versed in law and accounting,” said a former official with a regulatory body.
Chitale, a law graduate and a chartered accountant, sits on the boards of several companies, including Reliance Capital, Reliance General Insurance Company – both controlled by the Anil Ambani group. He also serves as independent director on the boards of the National Securities Clearing Corporation Limited, Asset Reconstruction Company (India), Ambuja Cements Ltd, Hinduja Global Solutions Ltd, Hinduja Ventures and Ishaan Real Estate Plc.
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India’s regulatory bodies availed of his expertise by nominating him to several official panels. He was a member of the Insurance Advisory Committee and the Committee on Investment, Expenditure & ULIP Issues of the Insurance Regulatory and Developement Authority of India, and has served as a member of the Working Group on Insurance, Pensions, Small Savings etc., Financial Sector Legislative Reforms Commission, the Company Law Advisory Committee, the Takeover Panel of the Securities & Exchange Board of India, Investor Education & Protection Fund Committee, the Advisory Committee on Regulations of the Competition Commission of India, and the Maharashtra Board for Restructuring of State Enterprises. ENS