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The board of MFSL comprises of the promoters and well-known personalities with profound understanding of capital market related activities. Together, they bring in the requisite direction for MFSL towards its goal to outshine in its field. The organization is ably supported by its competent and knowledgeable staffs for effective accomplishments.


Following comprises of the board of directors


Mr Lalchand Munoth –Chairman

Born in 1938, Mr Lalchand Munoth has over 50 years of business experience amongst many industries including money management. His contribution has been immense for the group and he continues to participate in the business policies of MFSL.

Mr Lalchand Munoth heads various religious and charitable institutions and is a well-known philanthropist. He had participated and was honoured by shri Ashok Gehlot, Chief Minister of Rajasthan, in the International Rajasthani Conclave, 2000.


Mr. Jaswant Munoth - Managing Director

Born in 1965, Mr Jaswant Munoth is the group CEO. He has been the Managing Director of MFSL since inception and is instrumental in spearheading the organisation. The merchant banking division and Portfolio Management Services is headed by him since inception. He has exposure to the international business.

Mr Jaswant Munoth has been featured in many leading publications in India and oversees including the coveted magazine ‘India Today' on its cover page article 'Brats in Business'. He has also made presentation at various National and International forums including The Indus Entrepreneur (TIE) at Los Angeles, USA; International Rajasthani Conclave, 2000 held at Jaipur during September, 2000.

Mr Jaswant Munoth is a commerce graduate with a Master’s Degree in Business Administration.


Mr Bharat Munoth - Managing Director

Born in 1970, Mr Bharat Munoth is a Commerce graduate with extensive knowledge of stock markets. He handles Stock Broking and Depository divisions of the company.


Mr Vikas Munoth - Director

Mr Vikas Munoth is a Commerce graduate and holds a post-graduate diploma in Business Management specialising in Finance and Marketing. He is also a Chartered Financial Analyst with special interest in fundamental and technical analysis of securities.


Ms Lakshika Metha - Independent Director

Ms Lakshika Mehta is a commerce graduate and a Chartered Accountant. She had previously worked in Deloitte Haskins & Sons and handled Risk Advisory & Consulting Services as a field senior. She is currently working as Specalist - local statutory reporting at Shell India Market Private Limited


Mr Ajit Kumbhat - Independent Director

Mr Ajit Kumbhat is the partner of M/s. Kumbhat & Co, a well-known Chartered Accountant firm headquartered out of Chennai. He had over three decades of experience in this field.

Mr Ajit Kumbhat is a director in Kumbhat Financial Services Limited. He is also well known person in the field of sports and holds various positions in different governing bodies.


Mr Datuk C Rajandram - Independent Director

Mr Datuk C Rajandram is a Fellow of Australian Society of Certified Practicing Accountants, a member of the association of Certified Public Accountants (Malaysia) and an associate of the Bankers' Institute of Australasia.

 He was the Executive Deputy Chairman of Rating Agency Malaysia, an independent Credit Rating Agency established in 1990 in response to an emerging Malaysian Corporate bond market.He was also the Chairman of Corporate Debt Restructuring Committee (CDRC), Advisor of the Central Bank of Malaysia (Bank Negara Malaysia), Secretary of the Capital Issues Committee (CIC) before his secondment to the Ministry of Finance which has given him vast experience in the areas of corporate debt restructuring,  recapitalizing  financial institution, strengthening the banking system, capital market and capital issues.


Mr Mah Sau Cheong - Independent Director

Mr Mah Sau Cheong is the owner of the South Malaysian Industries group with interest in Real Estate, Entertainment, Stock Broking and Insurance.


over 20 years of experience

Incorporated in 1990, MFSL is a widely held Public Limited Company. The equity shares of the company are listed on the Bombay Stock Exchange.


MFSL is a SEBI registered Merchant Banker, Stock Broker, Portfolio Manager & depository Participant. The company is promoted by a century old Munoth group headquartered out of Chennai and originating from Rajasthan.


board and management

social corporate responsibility


The Munoth Family has contributed towards social, educational and religious pursuits. Part of its corporate social responsibilities, the group has sponsored Misrimal Navajee munoth Jain Engineering College, Misrimal Navajee Munoth Jain School of Architecture and Lalchand Leeladevi Munoth Jain Medical Care.


Mr Lalchand Munoth, Chairman, MFSL is the Chairman of the engineering and architecture colleges.

Mr Jaswant  Munoth, Managing Director, MFSL is the Secretary - Academics of the aforesaid colleges.

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