Management Team

Board of Directors

H. L. Zutshi

Chairman (Independent Director)

Mr. H. L. Zutshi was the Chairman & Managing Director of Hindustan Petroleum Corporation Ltd (HPCL). HPCL is engaged in petroleum refining, marketing and exploration activities. He retired from HPCL in 2002 after serving as CMD for seven years. HPCL was the successor company of ExxonMobil in India, after the latter’s activities were taken over by the Government of India in 1974.

Mr. Zutshi also was the Chairman of Mangalore Refineries and Petrochemicals Ltd (MRPL), a joint venture between the Aditya Birla Group of companies and HPCL; South Asia LPG Ltd, a joint venture between HPCL and TOTAL of France; HINCOL, a joint venture between COLAS SA of France and HPCL; and an exploration and production company called Prize Petroleum, a joint venture between HPCL and HDFC, ICICI and TDCI.

He was a member of the Government of India appointed expert sub-committee for developing a policy paper on deregulation, which provided inputs for the Hydro Carbon Vision 2025. He formerly was Chairman of the petroleum, coal fertilizer and related products Division Council of Bureau of Indian Standards (BIS) in New Delhi, Convener of the Financial Services Sector task force of the Department of Public Enterprises, which fixed annual performance targets of the Financial Services PSUs. Mr. Zutshi also was Advisor Energy & Hydrocarbon to Mittal S.a.r.l. in Luxemburg and ABN Amro Investments. In addition, he has served as Independent Director on the boards of MMTC, MECON Ltd and IDBI Bank Ltd., Indirapuram Habitat Centre Pvt. Ltd., Terasol Labs Pvt. Ltd, Jaguar Overseas Limited, and Deepwater Drilling & Industries Ltd.  He also was Special Director of BIFR on the boards of Saurastra Chemicals and PML Industries.

Mr. Zutshi has a brilliant academic record. He specialized in mechanical engineering and was trained in management at the Administrative Staff College (Hyderabad), Indian Institute of Management (Ahmedabad) and Templeton College, Oxford University. He is Fellow of Energy Institute, UK.

Mr. Zutshi is presently the Managing Trustee of the Energy Research and Social Advancement Foundation, New Delhi and Ishwar Charitable Trust Eye Hospital - ICARE. He is a member of India International Centre, New Delhi.

N. Radhakrishna Reddy

Managing Director

Mr. N. Radhakrishna Reddy is the Managing Director of Rain Industries Limited.

He has more than 50 years of experience in the construction and cement industries. He has been a Director of the company since 1984. Mr. Reddy also is on the boards of Rain Cements Limited, Renuka Cement Limited, PCL Financial Services Private Limited, Arunachala Holdings Private Limited, PR Cement Holdings Limited, Apeetha Enterprises Private Limited, Lakshmi Sea Foods Limited, Rain Entertainments Private Limited and the Pragnya Priya Foundation.

Jagan Mohan Reddy Nellore

Director and Vice Chairman

Mr. Jagan Mohan Reddy Nellore brings to the Company 25 years of experience in the finance, commercial and operations areas.  Mr. Nellore is currently the Director and Vice Chairman of Rain Industries Limited and CEO of Rain Carbon, Inc., USA.

Mr. Nellore was the founder of Rain CII Carbon (Vizag) Limited, which had originally been incorporated as Rain Calcining Limited and which had commenced production of calcined petroleum coke (CPC) and electricity in 1998 in India. He spearheaded the vision, strategy and execution of the globalization of the Indian entity’s business model through the acquisition of Rain CII Carbon, LLC of the United States. (formerly CII Carbon, LLC) and by combining the U.S. and Indian CPC business strategies in 2007 and subsequently in 2013 through the acquisition of RÜTGERS N.V., a coal tar pitch (CTP) and chemicals producer. Mr. Nellore has successfully integrated the acquired entities to create the world’s leading industrial carbon producer. Mr. Nellore holds a bachelor of science degree in industrial engineering from Purdue University, USA.

Mr. Nellore is a member of the boards of Rain CII Carbon (Vizag) Limited, Rain Cements Limited, Renuka Cement Limited, Sujala Investments Private Limited, Rain Enterprises Private Limited, Rain Entertainments Private Limited, Pragnya Priya Foundation, Rain Commodities (USA) Inc., Rain CII Carbon LLC, USA, Rain Carbon Inc., Handy Chemicals (USA) Ltd and CII Carbon Corp.

N. Sujith Kumar Reddy


Mr. N. Sujith Kumar Reddy has more than 24 years of experience in the manufacturing and construction industries. He is the Managing Director of Rain Cements Limited, which manufactures and sells cement under the brand name “Priya Cement”. He is also Director of Renuka Cement Limited, PCL Financial Services Private Limited, Arunachala Holdings Private Limited, Apeetha Enterprises Private Limited, Nivee Holdings Private Limited, Nivee Property Developers Private Limited, Rain Entertainments Private Limited and Pragnya Priya Foundation. Mr. Reddy holds a bachelor’s degree in commerce.

Mr. Brian Jude McNamara

Independent Director

Mr. Brian McNamara (57 years) is a former banker with a 30 year career in project finance, corporate finance and investment management. Mr. McNamara worked in investment operations at International Finance Corporation (IFC) in Washington D.C. from 1991 to 2015 with responsibility for investment strategy, business development and project financing for a range of sectors across emerging markets including chemicals, textiles, general manufacturing and mining.  Mr. McNamara has extensive investment experience in project evaluation, financial structuring and investment management across the chemicals, fertilizers, carbon black, plastics, fibers, specialty chemicals and primary metals industries. 

Mr. McNamara is an independent Director and Chairman of the Audit Committee of the company’s wholly owned subsidiary Rain Carbon Inc. Prior to joining IFC  Mr.  McNamara worked in the corporate finance division of Solvay Chemicals (Belgium) and in banking and investment management in Brussels, Belgium and Dublin, Ireland.

Mr. McNamara holds a bachelor’s degree in economics and philosophy from Bristol University in England, and a master’s degree in finance and banking from University College Dublin in Ireland.

He is not holding any equity shares of the Company and he is not related to any Director of the Company.

Radhika Vijay Haribhakti

Independent Director

Ms. Radhika Haribhakti has over 30 years of experience in commercial and investment banking with Bank of America, JM Morgan Stanley and DSP Merrill Lynch. She has advised several large corporates and led their Equity and Debt offerings in domestic as well as international capital markets. She now heads RH Financial, a boutique advisory firm focused on M&A and private equity.

She serves as an Independent Director on the Boards of Adani Ports & Special Economic Zone, EIH Associated Hotels Ltd, ICRA Ltd, Navin Fluorine International Ltd, Vistaar Financial Services Pvt Ltd and Mahanagar Gas Limited.

She has also been closely involved with issues of women empowerment, financial inclusion and CSR and has served on Boards of non-profits for over 18 years, including 12 years as Chairperson.  She is the former Chair of Friends of Women’s World Banking (FWWB) and Swadhaar FinAccess, both non-profits engaged in providing financial solutions to women in economically disadvantaged communities. She has also served on the Governing Council of Citigroup Micro Enterprise Awards and CII’s National Committee on Women Empowerment.

Ms. Haribhakti is holds an undergraduate degree in commerce from Gujarat University and a post-graduate degree in management from the Indian Institute of Management (IIM) in Ahmedabad.

Nirmala Reddy

Independent Director

Ms. Nirmala Reddy worked as a financial sector consultant with the World Bank Washington, D.C., during 1995-2006. Her assignments were on credit intermediation, institutional sustainability, privatization, financial and performance appraisal of development banks and financial institutions. Projects were located in Mongolia, Guyana, Egypt, and Jordan. She also worked for the Asian Development Bank on a project in Thailand and on the African Development Bank in Abidjan, Cote d’Ivoire.

Ms. Reddy has 22 years of experience as a career banker in India. She joined as a Probationary Officer in the then State Bank of Hyderabad in 1969 and underwent training in operations, credit, and foreign exchange. In 1975, she joined Vijaya Bank as a Branch Manager and held several operational assignments for 16 years including heading the Merchant Banking Division in Bombay. She was deputed to the former Manufacturers Hanover Trust Company New York for training in credit and foreign exchange. She has undergone a senior management course at the Administrative Staff College in Hyderabad. In 1989, she joined the American Express Bank Ltd in Bombay as Director and Head of Correspondent Banking for India and Nepal. She was trained in the bank’s offices in New York, London, and Frankfurt.

Ms. Reddy holds a master’s degree in political science from the Osmania University, Hyderabad. She also has studied French and Japanese.

Ms. Reddy is the Managing Director of Nugget Estates Private Limited and Nugget Realty & Ventures Private Limited and Independent Director in Rain Cements Limited and Rain CII Carbon (Vizag) Limited. She is the President of Globe Enterprises LLC.

Mr. Varun Batra

Independent Director

Mr. Varun Batra is a Senior finance professional with more than 25 years of experience in the fields of Private Equity, Special Situations, Corporate Finance & Capital Markets, Credit & Relationship management across various Corporate & Financial Institutional customers. He has relevant experience in Relationship, Risk & Product Management and Debt & Equity investing across the Capital Structure.

Mr. Varun has built and led teams in both large & small organizations with direct Frontline and Profit Centre responsibility. He is currently a Senior Partner and heads the Mumbai office for Baring Private Equity Partners India Pvt. Ltd.

He was a Managing Director at Citibank N.A where he worked during the period 1997 – 2010. During his tenure at Citibank, he built and led Citigroup’s Special Situations proprietary investments in India. Prior to that he headed the Corporate Finance & Capital Markets business and was earlier responsible for relationships with Non-Bank Financial Institutions customers.

He worked in ANZ Grindlays Bank, Mumbai during the period from 1991 to 1996.

He is a Member of the Boards of RMZ Infotech Private Limited, RMZ Ecoworld Infrastructure Private Limited, RMZ Infratech Private Limited, Starkarma Realty Holdings India Private Limited and RMZ Consultancy Services Private Limited.

He is a Graduate in Mathematics from St. Xavier’s College, Mumbai and Post Graduate in Management from the Indian Institute of Management (IIM), Ahmedabad.

Executive Team

  • T. Srinivasa Rao Chief Financial Officer
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  • Balasubramanian Ramaswamy Chief Internal Audit Officer
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  • M. S. Krishna Mohan Reddy General Manager - Human Resources
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  • S. Venkat Ramana Reddy Company Secretary
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T. Srinivasa Rao

Chief Financial Officer

Mr. T. Srinivasa Rao is a first-class graduate in commerce from Andhra University and Fellow Member of the Institute of Chartered Accountants of India. He has more than 30 years of experience spanning finance and accounts, audit and taxation, and mergers and acquisitions. Mr. Rao joined RAIN Group in 2006, and has contributed the financial support for all strategic initiatives of expansions, acquisitions, divestments, corporate restructuring and fund raising. He also is responsible for financial reporting, investor relations management, shared services and group tax planning. Prior to joining RAIN, Mr. Rao worked in the member firms of PricewaterhouseCoopers and Ernst & Young in their Assurance and M&A Advisory divisions for about 13 years and assisted several large Indian and multi-national companies in their acquisition plans.

Balasubramanian Ramaswamy

Chief Internal Audit Officer

Mr. Balasubramanian Ramaswamy is a CMA-qualified finance professional with an enterprising career spanning more than 30 years, covering internal audit, controls and compliance activities holding various leadership roles for reputed multi-national companies such as Metro Cash & Carry, Visteon, Coca-Cola, ExxonMobil and others with extensive experience in handling multiple industry verticals across Asia-Pacific and other geographies. Key differentiators include setting up audit functions and devising unique and innovative review models, strengthening the controls and compliance environment and contributing strategically through business excellence initiatives, delivering tangible results.

M. S. Krishna Mohan Reddy

General Manager - Human Resources

Mr. Reddy heads the human resources and administration department of Rain Industries Limited and its subsidiary companies in India. He has over 30 years of experience in human resource and administration functions.

Mr. Reddy holds a bachelor’s degree in commerce and law from Sri Venkateswara University, as well as a master’s degree in human resource management from Annamalai University.

S. Venkat Ramana Reddy

Company Secretary

Mr. S. Venkat Ramana Reddy is a post-graduate in commerce, graduate in law from Osmania University and an associate member of Institute of Company Secretaries of India, New Delhi. Mr. Reddy was the recipient of Gold Medal from Pragathi Mahavidyalaya PG College in Hyderabad and National Merit Scholarship from Ministry of HRD, Government of India, for outstanding performance in graduation and post-graduation.

Mr. Reddy has more than 15 years of experience in handling matters relating to company law, FEMA, SEBI and other corporate laws. He has gained practical knowledge in corporate restructuring, documentation for acquisitions, buyback of shares, issuance of shares and debentures, security creation and corporate governance.

Mr. Reddy is a voracious reader and a regular contributor of articles on corporate laws in Chartered Secretary and Corporate Secretary, journals published by ICSI, New Delhi and ICSI, Hyderabad chapter respectively and known for maintaining highest standards of professionalism, fairness and integrity.

Mr. Reddy is presently heading the secretarial department of Rain Industries Limited and its subsidiary companies in India.