Chirag Shah
Summary
Credit banking professional with over 8 years of experience in mid and large corporate banking. Expertise in credit appraisal, sector analysis, and financial modeling for a corporate portfolio exceeding Rs.750 crore. Proven track record in collaborating with rating agencies and internal risk teams on large ticket proposals. Focused on leveraging analytical strengths in a credit or risk management role. Worked on companies into various sectors including manufacturing – Textiles, Steel, Fertilizers, food processing, Sugar, consumer home appliances, etc., Infrastructure – Roads, Renewables, EPC and construction, Real Estate – Commercial leasing, residential construction, NBFCs and various other sectors; financial analysis, financial modeling and Pre & Post sanction compliance.
Overview
14
14
years of professional experience
Work History
Assistant Vice President 1
IndusInd Bank Limited
04.2025 - Current
- Handling credit appraisal of Large and Mid-size Indian Corporates across sectors (Major sectors include EPC & Construction, Fertilizers, Steel, PVC)
- Handling corporate clients with average turnover of more than Rs.500cr and average ticket size of more than Rs.50cr
- Handling preparation of credit appraisal memos by analyzing company’s Financials, Risk & Ratio Analysis and conducting internal credit rating process for NTB (New-to-Bank) corporates to assess sanction of both FB/NFB limits as well as annual renewal appraisals of existing sanctions to corporate clients.
- Liaison with Credit Risk, Compliance to get the credit memo approved internally and pre & post sanctions credit activities for the corporate clients.
- Handling execution of facility documents in support of legal / risk team in finalizing formats including amendments/ waivers / approvals of clauses with appropriate justification on the changes and taking up to the appropriate committee for their approvals
- Issuance of SL as per the terms and conditions of approved term sheet
- Documentation-issuance of security documents including security creation and perfection as per the terms of sanction (including filing of necessary forms for ROC, CERSAI compliances).
- Supporting RMs in tracking principal/ interest payments, LC/BG maturities/ expiry and following up with the customers/ other internal departments
- Ensuring overall portfolio hygiene by handling various CAD covenants and EWS meetings and minimizing client’s covenants overdue
- Handling all kind of audit i.e., Statutory/ RBI/ HO related to credit activities.
- Analyzing quarterly financial performance, monthly stock statements, annual stock audit reports and highlighting trends and deviations
Associate RM (Grade- Chief Manager)
IDFC First Bank Limited
09.2021 - 03.2025
- Handling credit appraisal of Large and Mid-size Indian Corporates across sectors (Major sectors include EPC & Construction, Textile, Home appliances, Fertilizers, Steel and NBFCs)
- Handling corporate clients with average turnover of more than Rs.500cr and average ticket size of more than Rs.100cr
- Handling preparation of credit appraisal memos by analyzing company’s Financials, Risk & Ratio Analysis and conducting internal credit rating process for NTB (New-to-Bank) corporates to assess sanction of both FB/NFB limits as well as annual renewal appraisals of existing sanctions to corporate clients.
- Liaison with Credit Risk, Compliance to get the credit memo approved internally and pre & post sanctions credit activities for the corporate clients.
- Handling execution of facility documents in support of legal / risk team in finalizing formats including amendments/ waivers / approvals of clauses with appropriate justification on the changes and taking up to the appropriate committee for their approvals
- Issuance of SL as per the terms and conditions of approved term sheet
- Documentation-issuance of security documents including security creation and perfection as per the terms of sanction (including filing of necessary forms for ROC, CERSAI compliances).
- Supporting RMs in tracking principal/ interest payments, LC/BG maturities/ expiry and following up with the customers/ other internal departments
- Ensuring overall portfolio hygiene by handling various CAD covenants and EWS meetings and minimizing client’s covenants overdue
- Handling all kind of audit i.e., Statutory/ RBI/ HO related to credit activities.
- Analyzing quarterly financial performance, monthly stock statements, annual stock audit reports and highlighting trends and deviations
Analyst – Large Corporate Group (LCG)
CARE Ratings Limited
07.2017 - 09.2021
- Conducting research on the industry in which the company is operating and keeping a track on the industry as well as the company’s performance
- Analysis of the Company’s Financials, Risk Analysis & Ratio Analyst tracking the company’s financial results i.e. quarterly, half-yearly and Nine months results as well as through google alerts for any material event OR any major development such as acquisitions, mergers or forming pool of assets under InviT platform, etc.
- Interacting with the business personnel and conducting site visits to understand the business processes and operational risk factors
- Preparation of Rating Note, Financial Models, Press Release & Rating Rationale
- Conducting Annual Surveillance of the Company and Presenting it to the Rating Committee Meeting
- Tracking the Industry performance
- MIS Reporting
Senior Finance Officer – Corporate Finance
IL&FS Township & Urban Assets ltd.
04.2016 - 01.2017
- Primarily handling financing of commercial real estate projects in GIFT City and managing day to day banking operations and requirements of the company
- Cash Flow Management: Managing funds for making regular project related payments, debt servicing etc. by maturing investments and placing surplus funds in deposits, ensuring liquidity and no idleness of any funds
- Project Finance Documentation, COD approvals & Completion of all compliances ensuring timely disbursement of funds
- Financial Modelling by using various Capital Budgeting Techniques viz., IRR, Discounted Cash Flow, Cost of Equity, Cost of Debt, WACC, etc.
Finance Officer – Corporate Finance
Shree Renuka Sugars ltd.
09.2014 - 03.2016
- Liasioning with Banks/ Financial Institutions from mid to senior Managerial level for fund raising
- Preparation of financial projections and Working Capital Reports for Banks like CMA, Form CI, CII, CIII, Financial Follow- up Report (FFR) I & II, Reporting of Annexure I & Annexure 3 (Due Diligence Report), Reporting of ODI Form - Part I, II & III (APR, Remittance, Corporate Guarantee to Overseas subsidiary) etc.
- Follow up for Sanctions, NOC, No due certificates and Security Creation process as well as Coordinating with rating agencies for getting the limits rated
- Assisting on RBI & FEMA compliance of overseas direct subsidiaries of the Company
Manager – Corporate Finance
Sun Capital Advisory Services Pvt. ltd.
12.2013 - 09.2014
- As a part of project finance advisory team, handled assignments spanning across debt syndication, structured financing for clients in the real estate space and media & entertainment.
- The job responsibility mainly includes:
- Developing strong relationships with corporates in order to understand their borrowing needs and providing credit facilities through negotiations with various banks/ FI’s.
- Preparation of CMA, Financial Modeling, Ratio Analysis and detailed financial appraisal reports for the corporate clients
Manager – Credit
Kredit Financial Consultants Pvt. ltd.
01.2012 - 12.2013
- Assessment of the viability of the proposal and the client's fund and non-fund based credit requirements like term loan, working capital, cash credit, overdraft, letter of credit, bank guarantee etc.
- Preparation of financial models and detailed project reports & other bank related papers for submission to banks/ financial institutions and handling of queries raised by the banks/FI’s during the project appraisal stage.
- Project appraisal at various FIs / Banks; follow up for sanctions, Syndication, Documentation and draw down & Liaison with banks.
- During my employment with Sun Capital Advisory Services Private Limited and Kredit Financial Consultants Private Limited, have raised funds in the form of fund-based and Non-fund based facilities as well as rupee term loan with an average ticket size of Rs.30-40 crore each.
- These funds were syndicated for several companies into sectors including real estate, media and entertainment, hospitality, recycling, automobile, packaging and textile.
Education
MBA - Finance
K.R. Sapkal College
Nasik01.2011
B.Com -
Thakur College of Science & Commerce
Mumbai01.2006
H.S.C. -
Thakur College of Science & Commerce
Mumbai01.2003
Skills
- Corporate Credit Appraisal
- Financial Modelling
- Industry and Business Risk Analysis
- Credit Structuring and Covenants
- Post Sanction Monitoring
- Regulatory and Credit Policy compliance
- Client Relationship Management
Internship
Banking, Jankalyan Sahakari Bank Ltd. (JKSBL), Malad (W), 2, Working Capital Advances by JKSBL (eg, Cash credit, overdraft, Cash Credit on mortgage of Fixed Asset)
Timeline
Assistant Vice President 1
IndusInd Bank Limited
04.2025 - Current
Associate RM (Grade- Chief Manager)
IDFC First Bank Limited
09.2021 - 03.2025
Analyst – Large Corporate Group (LCG)
CARE Ratings Limited
07.2017 - 09.2021
Senior Finance Officer – Corporate Finance
IL&FS Township & Urban Assets ltd.
04.2016 - 01.2017
Finance Officer – Corporate Finance
Shree Renuka Sugars ltd.
09.2014 - 03.2016
Manager – Corporate Finance
Sun Capital Advisory Services Pvt. ltd.
12.2013 - 09.2014
Manager – Credit
Kredit Financial Consultants Pvt. ltd.
01.2012 - 12.2013
MBA - Finance
K.R. Sapkal College
B.Com -
Thakur College of Science & Commerce
H.S.C. -
Thakur College of Science & Commerce