CHAIRMEN EMERITI
ASHOK M ADVANI – CHAIRMAN EMERITUS
Ashok M Advani holds an MBA from the Harvard Graduate School of Business Administration, an Electrical Engineering degree from MIT, USA, and a BSc (Honours) from Mumbai University. With a distinguished career spanning over 47 years at Blue Star, Mr Advani served as its Chairman for 33 years. Under his leadership, the Company’s revenue grew more than 400-fold and became a recognised leader in the Air Conditioning and Commercial Refrigeration industry in India.
Mr Advani retired from the Board in November 2016, but in recognition of his exceptional leadership and legacy, he was appointed Chairman Emeritus. He continues to be an invitee to the Board Meetings and remains deeply engaged with the Company as an advisor to both the Board and Executive Management.
SUNEEL M ADVANI – CHAIRMAN EMERITUS
Suneel M Advani is a double graduate in Electrical Engineering and Economics from MIT, USA. He also holds an LLB degree from Mumbai University. Mr Advani spent his entire professional career at Blue Star, beginning as a management trainee in 1969. Over the years, he steadily rose through the ranks, becoming President and Vice Chairman in 1984. In 2014, he retired from his executive role and was designated Vice Chairman of the Board. In December 2016, he was appointed Chairman of the Board, a position he held until his retirement from the Board on March 31, 2019, after 50 years with the Company, including 36 years on its Board.
In recognition of his exemplary leadership, Mr Advani was honoured with the title of Chairman Emeritus. He continues to be associated with the Company as an advisor to both the Board and Executive Management.
During his tenure, Mr Advani played a key role in establishing Blue Star’s presence in computer software development and exports. When this division was spun off in 2000 to form Blue Star Infotech Limited, he became Chairman and later Managing Director. He also led many successful joint ventures with global companies such as HP, Motorola, and Stork-Comprimo, in addition to forming strategic partnerships within the Indian air conditioning industry. Mr Advani was instrumental in several corporate acquisitions for both Blue Star and Blue Star Infotech Limited.
Throughout his career, Mr Advani contributed significantly to the industry and trade bodies, serving on the managing councils of several organisations, including the Confederation of Indian Industry (CII). He is also the founder and a Past President of the Refrigeration and Air Conditioning Manufacturers Association (RAMA).
BOARD OF DIRECTORS
VIR S ADVANI - CHAIRMAN & MANAGING DIRECTOR
Vir S Advani holds a Bachelor’s degrees in Systems Engineering and Economics from the University of Pennsylvania. He has also completed an Executive Management Programme at Harvard Business School. After a two-year stint in private equity in New York, Mr Advani joined Blue Star Infotech Limited in 2000 and later founded Blue Star Design and Engineering Limited in 2003, where he served as the Chief Executive Officer.
In 2007, he transitioned to Blue Star, assuming the role of Vice President of Corporate Affairs. He was promoted to Executive Director in 2010. In April 2016, Mr Advani was appointed as Managing Director of Blue Star, and in April 2019, he was elevated to Vice Chairman and re-designated as Vice Chairman & Managing Director. In April 2024, he assumed the role of Chairman & Managing Director of the Company.
In his expanded role, Mr Advani serves as the key interface between the Board and Executive Management. He directly oversees various businesses and functions, including Professional Electronics & Industrial Systems, International Operations, Corporate Finance, Corporate Human Resources, Information Technology, and Corporate Planning.
Mr Advani is an active member of the Confederation of Indian Industry (CII), and is currently the Deputy Chairman of the CII Western Region Council.
Directorship and Full-Time Positions in Body Corporates
B THIAGARAJAN - MANAGING DIRECTOR
B Thiagarajan holds a Bachelor’s degree in Electrical and Electronics Engineering from Madurai University. He has also completed the Senior Executive Programme from London Business School. He has more than four decades of experience, having worked for reputable companies such as Larsen & Toubro Limited, BPL Systems Limited and Voltas Limited, prior to joining Blue Star in 1998.
Mr Thiagarajan has handled various assignments in Service Business, Corporate Communications & Marketing and Corporate Affairs & Planning before being promoted to President of the AC&R Products Group in 2009. He was elevated to the Board in 2013 and was appointed as Joint Managing Director in 2016 before taking charge as Managing Director with effect from April 2019. He currently oversees the Air Conditioning and Refrigeration business operations in India, including Sales & Marketing, Manufacturing, R&D, Supply Chain, and Customer Service. His remit also includes Corporate Communications and Public Relations functions.
Mr Thiagarajan plays an active role in various industry forums and is currently a member of the CII National Council, and chairs the CII National Committee on CSR and the CII Trade Fairs Council. He is also the National Chairman of the Indian Green Building Council and Chairman of the CII Green Cooling Council. In the past, he has been President of Refrigeration and Air Conditioning Manufacturers Association (RAMA), and Chairman of both, CII Western Region and CII Maharashtra State.
P V Rao - Executive Director - Projects, Solutions & International
P Venkata Rao holds a Bachelor’s degree in Mechanical Engineering, an MBA in Marketing, and a Post Graduate Diploma in Industrial Relations and Personnel Management. He has also completed the Senior Executive Programme at London Business School. Mr Rao joined Blue Star in 1985 and has had a distinguished career spanning nearly four decades with the Company.
During his tenure, he has held various roles and played a key role in turning around the Electro-Mechanical Projects business, transforming it into a profitable segment with a distinct value proposition centered on superior project delivery.
As Executive Director – Projects, Solutions & International, Mr Rao oversees the Electro-Mechanical Projects business as well as Central Air Conditioning products and services business in India. He is also leading Blue Star’s expansion efforts in the air conditioning and refrigeration markets across the Middle East and Africa.
Mr Rao represents Blue Star Limited as an elected member of the Confederation of Indian Industry (CII), Maharashtra State Council. He is also a Life Member of the Indian Society of Heating, Refrigerating and Air Conditioning Engineers (ISHRAE).
SAM BALSARA - INDEPENDENT DIRECTOR
Sam Balsara holds a Bachelor’s degree in Commerce and a Post Graduate Diploma from Jamnalal Bajaj Institute of Management Studies. He is the Chairman of Madison World, one of India’s largest media and communication agencies, and brings over 50 years of extensive experience in marketing, advertising, and media.
Mr Balsara began his career in 1972 at Sarabhai’s, followed by roles at Cadbury India Limited, Contract Advertising Company (WPP), and Mudra Communications before founding Madison in 1988. Under his leadership, Madison Media is ranked by RECMA as the ‘4th Largest Independent Media Agency’ worldwide by billings.
He has received numerous accolades, including being named ‘The Most Influential Person in Media’ by Economic Times - Brand Equity for 10 consecutive years since 2005, the IAA Leadership Award for ‘Media Agency Professional of the Year’ in 2013, and the ‘Lifetime Achievement Award’ in 2009 from the Advertising Agencies Association of India. Mr Balsara served as a jury member at the International Festival of Advertising in Cannes in 2005 and 2014.
He has held prominent positions such as President of the Advertising Agencies Association of India (AAAI), where he remains an Executive Committee member, and Chairman of the Advertising Standards Council of India from 2000 to 2001, where he currently serves as an Advisor. Mr Balsara joined the Blue Star Board in June 2017.
Directorship and Full-Time Positions in Body Corporates
ANIL HARISH - INDEPENDENT DIRECTOR
Anil Harish is a Partner at the law firm D M Harish & Co., with a practice encompassing diverse areas such as Property, Exchange Control, Foreign Investments, Trusts, Wills, and both Indian and International Taxation. He has served on the Managing Committee of the Indian Merchants Chamber, Chamber of Tax Consultants, and ITAT Bar Association. Additionally, Mr Harish has held leadership positions in several legal institutions, including serving as Vice President of the Society of Indian Law Firms. Recognised as a leading tax lawyer by the prestigious legal directory Chambers & Partners, Mr Harish has authored numerous articles published in leading newspapers and professional journals.
He joined the Board of Blue Star in November 2017 and is also a Director of reputed companies including Hinduja Global Solutions Limited and Oberoi Realty Limited. Beyond his corporate roles, Mr Harish is actively involved with various educational and charitable trusts and serves as a Trustee of the Hyderabad (Sind) National Collegiate Board.
RAJIV LULLA - NON-EXECUTIVE DIRECTOR
Rajiv Lulla holds a Bachelor’s degree in Mechanical Engineering with Electronics from King’s College, London, and a Master’s degree from Imperial College, London. He is a Founding Partner at Deep Blue Advisors, a technology-enabled financial services firm.
Mr Lulla brings over 25 years of experience as an investment banker, specialising in merger advisory and corporate finance. He has successfully completed transactions with a combined value exceeding $220 billion across diverse sectors including industrial, infrastructure, transport, and telecom. He has held senior global leadership positions at Merrill Lynch, Credit Agricole Group, and Deutsche Bank, with postings in New York, London, Paris, and Hong Kong. Mr Lulla joined the Board of Blue Star in December 2016.
Directorship and Full-Time Positions in Body Corporates
G MURLIDHAR - INDEPENDENT DIRECTOR
G Murlidhar is a Chartered Accountant, Cost & Management Accountant, and Company Secretary, and has completed the Advanced Management Programme (AMP) at Harvard Business School, USA. He is a seasoned finance professional with extensive experience across industries such as insurance, financial services, engineering, pharmaceuticals, and manufacturing. He currently serves as a Non- Executive Director of Kotak Mahindra Life Insurance Company Limited.
Mr Murlidhar was a founding member of Kotak Life Insurance in 2001 and has held several key leadership roles, including CFO and COO. He served as Managing Director and CEO of the Kotak Life Insurance from 2011 until his retirement in 2021. During his tenure, he played a pivotal role in establishing a robust financial and operational foundation and developing a diversified and balanced distribution network.
He has received numerous prestigious awards, including the ‘CA Business Leader – Insurance’ award from the Institute of Chartered Accountants of India and the ‘Insurance CEO of the Year’ award from FICCI. As a prominent leader in the insurance sector, he served as Co-Chairman of the Insurance Committee of FICCI, a member of the Executive Committee of the Life Insurance Council, and a member of the Insurance Advisory Committee (IAC) of Insurance Regulatory and Development Authority of India (IRDAI). Mr Murlidhar joined the Board of Blue Star in January 2024.
SUNAINA MURTHY - NON-EXECUTIVE DIRECTOR
Sunaina Murthy holds a Bachelor’s degree in Molecular Genetics from the University of Rochester and a Master’s degree in Biotechnology from Northwestern University. She has also earned an IICA Certificate in Corporate Governance and a Competent Boards Certificate in Climate and Biodiversity.
Ms Murthy began her career as a cancer researcher at the University of Pennsylvania before moving into venture capital with a focus on life sciences. She co-managed a $3 billion healthcare fund at AIM Capital Management, USA, making investments across biotechnology, medical devices, pharmaceuticals, hospitals, and healthcare services. Since returning to India in 2006, she has consulted for venture capital firms and companies in the life sciences and healthcare sectors, both in the US and India.
She has been a member of the Board of Blue Star Engineering & Electronics since 2023 and has served on the Board of Trustees of the Blue Star Foundation for over 13 years. Ms Murthy joined the Blue Star Board in April 2019.
Directorship and Full-Time Positions in Body Corporates
ANITA RAMACHANDRAN - INDEPENDENT DIRECTOR
Anita Ramachandran holds a Master’s degree in Business Administration (MBA) from Jamnalal Bajaj Institute of Management Studies, Mumbai. She is a renowned HR expert in India with over 40 years of experience as a management consultant and has received several academic honours.
Ms Ramachandran began her career in 1976 as the first woman consultant in the Management Consultancy division of AF Ferguson & Co, Mumbai. She worked across various domains including industrial market research, strategy, and human resources, eventually becoming a director at the firm. After 19 successful years, she founded Cerebrus Consultants, focusing on HR advisory and organisational transformation. Under her leadership, Cerebrus has partnered with over 800 companies across South Asia on diverse HR projects.
She is widely recognised as an authority in rewards management and serves as a strategic advisor to family groups and mentor to numerous private equity firms and start-ups. Ms Ramachandran has served as an Independent Director on several boards and currently serves on the boards of Grasim, Ultratech, Happiest Minds, and FSN E-commerce, among others.
In addition to her corporate roles, she supports various social sector organisations and is deeply committed to women’s empowerment. She has previously been Chairperson of TiE Women, served on the Executive Committee of TiE Mumbai, and was a member of the Advertising Standards Council of India. Ms Ramachandran joined the Blue Star Board in June 2022.
Directorship and Full-Time Positions in Body Corporates
ARVIND K SINGHAL - INDEPENDENT DIRECTOR
Arvind K Singhal holds an Engineering degree in Electronics and Communication from IIT Roorkee, which also recognised him as a ‘Distinguished Alumnus,’ and an MBA in Finance and Marketing from UCLA, USA. He is the Founder and Chairman of Technopak Advisors, one of India’s leading management consulting firms focusing on three key sectors that include Consumer Products & Retail, Textiles & Apparel, and Food & Food Services.
He is also currently an Independent Director of Metro Brands Limited & Greaves Electric Mobility Private Limited and on the Advisory Board of Delhi-based Pahle India Foundation (PIF). He joined the Blue Star Board in February 2019.
Directorship and Full-Time Positions in Body Corporates
VIPIN SONDHI - INDEPENDENT DIRECTOR
Vipin Sondhi holds a Bachelor’s degree in Technology in Mechanical Engineering from IIT, Delhi and a Post Graduate Diploma in Management from IIM, Ahmedabad. He has about four decades of experience in the Manufacturing and Engineering sectors. He has been the Managing Director and Chief Executive Officer of Ashok Leyland, JCB India and Tecumseh India. He has also worked with other reputed organisations, including Tata Steel, Shriram Honda Power Equipment and Escorts Limited.
He is currently Chairperson, National Board for Quality Promotion, Quality Council of India; Member, Technology Advisory Group to Empowered Technology Group (Appointed by Principal Scientific, Advisor to the Government of India); Chairperson of the Confederation of Indian Industry’s Green Mobility Council and Member, Governing Board of I-Hub for Autonomous Systems Innovation Foundation, Indian Institute of Science, Bengaluru. In addition, he has been the past Vice President of Society of India Automobile Manufacturers (SIAM). He is on the Board of several ‘not-for-profit’ organisations such as Bharatiya Yuva Shakti Trust, Ananta Centre and Sasakawa India Leprosy Foundation. He is also an Independent Director and joined the Board of Blue Star in January 2024.
Directorship and Full-Time Positions in Body Corporates
DINESH N VASWANI - NON-EXECUTIVE DIRECTOR
Dinesh N Vaswani holds an MBA from the Wharton School of Business and a BBA cum laude from the University of Texas at Austin. He is the Founder and Managing Director of Acuitas Capital Advisors Private Limited, a multi-family investment office that advises families on their investments. He has over three decades of experience in both investing and operating companies in India and the US.
Mr Vaswani was a Managing Director at Temasek Holdings Advisors India Private Limited, established Bessemer Venture Partners’ operations in India, and was the CEO of Blue Star Infotech Limited, USA. He has served on several Boards of public and private companies, including Firstsource, Mindtree, Venture Infotech, and Borosil. He joined the Board of Blue Star in December 2016.
