Sucheta Dalal :RIL's executive director R Ravimohan passes away
Sucheta Dalal

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RIL's executive director R Ravimohan passes away  

December 29, 2009

Reliance Industries Ltd's (RIL) executive director R Ravimohan died on Monday night following a cardiac arrest. Mr Ravimohan, aged 52, is survived by his wife Madhuralakshmi, daughter Hridaya and son Jagad. In September, he was appointed on the Board of directors of RIL.

In a release, RIL chairman Mukesh Ambani said, "We are deeply saddened by the sudden loss of Ravimohan. He was a keen supporter of Reliance Industries and a very dear friend. On behalf of all of us at Reliance Industries, I offer my heartfelt condolences to Ravi's family and many friends."

Mr Ravimohan, who was handling the proposed acquisition of global petrochemical major LyondellBasell Industries, was rushed to hospital after he suffered a cardiac arrest while taking a walk outside his office.

He was closely involved with the modernisation of the Indian financial system and pioneered the era of electronic stock markets in the country. Mr Ravimohan was involved in critical policy assignments including being a member of the Primary Market Advisory Committee of SEBI, Technical Advisory Committee and Financial Stability & Stern Test Assessment Committee of the Reserve Bank of India and the Raghuram Rajan Committee on Financial Sector Reforms.

Mr Ravimohan was a chemical engineer and had also completed an Advanced Management Program from Harvard Business School. He served as chief executive officer of the Over-the- Counter Exchange of India (OTCEI) from 1990 to 1994 and was also instrumental in setting up India's first electronic stock exchange.

He was also former chairman of CRISIL. Ravimohan served as region head of south and south-east Asia division and was managing director of Standard & Poor's Corp since May 2008. Mr Ravimohan served as country head of S&P India since 27 July 2007. He joined S&P in August 2007. He served as chief executive officer and managing director of CRISIL Ltd, a subsidiary of S&P, from 1994 to July 2007. He also served as director of CRISIL Risk and Infrastructure Solutions Ltd, CRISIL Credit Information Services Ltd, Gas Strategies Group Ltd, Irevna Ltd and Irevna LLC. He was director of India Index Services & Products Ltd, Crisil Research & Information Services Ltd, CRISIL MarketWire Ltd, CRISIL Properties Ltd and Global Data Services of India Ltd. He also served as director of the National Commodity And Derivatives Exchange Ltd.

Mr Ravimohan also served as director of Whistling Woods International Foundation. He had a long initial career with ICICI Ltd in the areas of project appraisal, systems design, credit administration and merchant banking.

-- Sucheta Dalal