M R Mayya joins L&T MF as independent director

M R Mayya, a well-known finance professional and former executive director of Bombay Stock Exchange (BSE), has been appointed as an independent director on the board of L&T Mutual Fund Trustee Limited with effect from May 17, 2010.

Mayya, an MA in Economics from Madras University was also founder chairman of BOB Capital Markets. After completing his MA, Mayya entered into the Indian Economic Service in July 1958, and served about 18 years in the Forward Markets Commission regulating commodity markets.

He joined the stock exchange division of the Ministry of Finance regulating stock markets in February 1973. He became the head of stock exchange division in August 1978. He joined Bombay Stock Exchange as an executive director in August 1983 and after working for about 10 years, he retired in August 1993.
 
With his vast knowledge and experience, Mayya was appointed as the Member of the Rating Committee of CARE for over 14 years till January 2008. He has also been Director of various Companies.
 
Commenting on Mayya joining the trustee company, N Sivaraman Sr VP L&T Finance, the sponsor of L&T Mutual Fund Trustee Limited said, “We are proud to have Mr. Mayya, a legend in the financial Services in India on the Board of L&T Mutual Fund Trustee Limited. His guidance will be valuable to us in building a robust mutual fund business”.

L&T Mutual Fund manages 11 equity schemes and 11 debt schemes.