Yezdi Hirji Malegam is an Indian chartered accountant who was the president of Institute of Chartered Accountants of India from 1979 to 1980.[1] He was the chairman of National Advisory Committee on Accounting Standards.[2] Since 27 November 2000, he has been a board member of Reserve Bank of India and holds a position as a trustee of The Willingdon Sports Club. He is also engaged in various other fields of business and finance.[3] He has been a director of the Indian Central Bank's board for 17 years.[4]
Yezdi Hirji Malegam | |
|---|---|
| President of ICAI | |
| Succeeded by | V Rajaraman |
| Personal details | |
| Nationality | Indian |
| Occupation | Chartered Accountant |
Review of Disclosure Requirements
editMalegam lead a 1995 review of disclosure requirements for public issues.[5] Under his recommendation, guidelines were produced by SEBI, which included the recommendation such as companies declaring loans to subsidy companies.[6]
Study of Issues and Concerns in the MFI Sector
editMalegam was appointed Chairman of the famous Malegam Committee (Sub-Committee of the RBI Central Board of Directors) set up to study issues and concerns in the MFI Sector. The committee submitted its report to the RBI in January 2011.[7][8] Malegam contended that the micro-finance institutions have neglected the poor.[9]
Financial sector and accounting reforms
editMalegam was member of the Financial Sector Legislative Reforms Commission set up in 2011 to amend the financial laws in India. However, Malegam submitted a dissenting note to the Commission's Report, arguing that Reserve Bank of India should control all capital flows except FDI.[10]
Awards and honours
editMalegam received Padma Shri Award (the fourth highest civilian award in the Republic of India) in 2012.[11]
See also
editReferences
edit- ^ "Past President". Institute of Chartered Accountants of India. Retrieved 17 February 2011.
- ^ "www.moneycontrol.com/news/management/yh-malegam-defends-as-11-dilution_391879.html". News Center. Retrieved 17 February 2011.
- ^ "Y. H. Malegam B.Com., F.C.A. (England & Wales)". Bloomberg. Retrieved 17 February 2011.[dead link]
- ^ "YH Malegam| Limit on annual income can be changed". Wall Street Journal. Retrieved 17 February 2011.
- ^ Machiraju, H R (2007). Merchant Banking, Principles And Practice. New Age International. pp. 170, 240, 478. ISBN 978-81-224-1466-0.
- ^ Roche, Julian (2005). Corporate governance in Asia. Routledge. pp. 140. ISBN 0-415-33975-8.
Y. H. Malegam.
- ^ "Report of the Sub-Committee of the Central Board of Directors of Reserve Bank of India to Study Issues and Concerns in the MFI Sector". Reserve Bank of India. Archived from the original on 7 January 2012. Retrieved 3 March 2019.
- ^ {url=http://www.iibf.org.in/documents/YHMR2011.docx}
- ^ "MFIs Neglect the Poor - Malegam". Archived from the original on 27 December 2013.
- ^ "RBI should control capital flows - Malegam".
- ^ "Full list: 2012 Padma Vibhushan, Padma Bhushan and Padma Shri awardees - Documents News - IBNLive". Archived from the original on 28 January 2012. Retrieved 26 January 2012.
External links
edit- BusinessWeek: Executive Profile: Y. H. Malegam[dead link]
- Q&A: Y H Malegam, Chairman, Malegam Committee
- RBI to decide on microfinance institutions after Y.H.Malegam Committee report
- Y. H. Malegam: "Limit on annual income can be changed"
- Interview with Y. H. Malegam on his report on Indian Microfinance Institutions
- Y. H. Malegam Committee Report: RBI releases Report of the Sub-Committee of its Central Board of Directors to study Issues and concerns in the MFI Sector
- Firstsource Board of Directors
- [1]
- [2]