Vaibhav Gupta
Leadership team

Mr. Mohit Talwar

Mohit Talwar is the Vice Chairman of the Max Group. He is also the Managing Director of Max Financial Services Limited and Max India Limited, and Vice Chairman of Max Ventures & Industries Limited (MaxVIL). In addition, he is the Chairman of Max Speciality Films and serves on the Boards of Max Life Insurance, Max Healthcare, Max Bupa Health Insurance and Antara Senior Living.

In his earlier role as the Deputy Managing Director of the erstwhile consolidated Max India Limited, he successfully leveraged his strong relationships with institutional investors, hedge funds, banks and private equity firms, and led several complex corporate finance and financial structuring deals to ensure adequate investment and liquidity for the Group’s operations. He has played a central role in executing key transactions including the setting up of Max Bupa Health Insurance, bringing on board MS&AD Insurance Group Holdings as the new JV partner for Max Life and Life Healthcare’s entry as JV partner in Max Healthcare, and later the equalization of its stake in the business, and completing the mega restructuring of the erstwhile Max India into three new listed companies, which received a significantly positive reaction from capital markets. In his new role, Mr. Talwar was instrumental in executing a stake repurchase transaction with IDFC Limited, and more recently a transaction with IFC to repurchase its stake in Max Healthcare. He has also overseen key transactions in MaxVIL, including the induction of Toppan Group as a JV partner in Max Speciality Films, and a 22.5% stake sale to New York Life’s subsidiary.

A veteran in the Corporate Finance and Investment Banking industry, Mr. Mohit Talwar has a wealth of experience in Corporate Finance and Investment Banking, having spent 24 years in Wholesale Banking across global organizations such as Standard Chartered, ANZ Grindlays and Bank of Nova Scotia, prior to joining the Max Group.

Mr. Dharmender Kumar
Mr. Dharmender Kumar
Associate Director, External Relations

Mr. Dharmender Kumar heads the External Relations function at Max India Limited. In this role, he is responsible for maintaining strong cross-functional coordination for smooth performance of activities pertaining to corporate affairs and actively liaising State & Central Government Authorities to obtain regulatory approvals.

In addition, he is also responsible for receiving and addressing potential business inquiries from the Government organizations, identifying and finalizing industry peers based on parameters such revenues, business lines, nature of risk, among others.

Mr. Kumar has over 19 years of experience in Government Relations, Policy Advocacy, Regulatory Affairs and Administration. Prior to joining Max, Mr. Kumar worked with Aviva Life Insurace as Manager, Liaison & Facilities.

Mr. Dilbagh S. Narang
Mr. Dilbagh S. Narang

Dilbagh S. Narang heads the Taxation function for Max India and its Group Companies. He has been associated with the Max Group for the past 12 years and is a seasoned professional with varied experience in the field of taxation. His experience spans specialization in strategizing for tax efficiencies, M&A tax structuring and handling tax litigation at various appellate forums.

At Max, he is responsible for managing the entire gamut of corporate taxation ranging from day-to-day compliance, advisory and analytics, tax assessments, multifarious litigation, structuring mergers, demergers, slump sales, stake sales and capital raising exercises.

Mr. Narang has played a major role in all the corporate structuring and capital raising activities undertaken at Max since 2006 and has been a key driver in mitigating tax leakages and putting into place effective structures to avoid future tax litigation.

He has also aptly controlled the existing tax litigation at the Group level and has been instrumental in achieving positive outcomes in some of the most difficult matters.

At Max Group, he has been felicitated twice with the prestigious “Chairman’s Award” (in 2009 and 2014) for his outstanding contribution, service excellence and personal credibility to the Group.

Mr. Narang has an excellent academic record. He is a Commerce graduate and a Chartered Accountant by profession. He has over 19.5 years of experience in the field of taxation. Prior to joining the Max Group, Dilbagh worked with PricewaterhouseCoopers for around 6 years and has advised clients such as Carrier Aircon, Lucent Technologies, Nokia India, BHP Billiton, Alcatel, Diebold Systems. He started his career in 1998 with M/s Vaish Associates, a leading tax law firm and managed clients such as Maruti Suzuki, Samsung, Modi group, Eicher Motors etc.

Mr. Rishi Raj
Mr. Rishi Raj
Director, Strategy and Corporate Development

Mr. Rishi Raj joined the Max Group from McKinsey & Co, with 17 years of rich international experience in research and analytics, capability development and consulting across sectors including Energy, Basic Materials, Infrastructure and Retail on topics related toStrategy & Corporate finance (S&CF). He has successfully led large global teams, managed operations and driven transformations as a line manager.


In his previous role with McKinsey, Mr. Raj served as the Chief Operating Officer of STAC (Strategy and Trends Analysis Center), a center of expertise for McKinsey’s S&CF Practice. He helped shape the strategic direction of the STAC, execute strategic priorities, manage operations & lead people to ensure world class delivery and quality of service to clients. Mr. Raj was also a core member of the Steering Committee of McKinsey’s knowledge center in India and has been involved in driving strategic priorities for the center with respect to client service innovation, incubation of knowledge based capabilities and people development.


He is an Economics graduate from Delhi University, and an MBA from IMI, New Delhi where he was placed 2nd in the batch.

Mr. Nitin Thakur
Director, Brand & Communications

Nitin Thakur heads the External Affairs, Communications and Branding functions for Max India. He is responsible for defining and driving the communication strategy, driving external & internal communication at the Group level, and supporting the Group companies in crisis communication.

In the last 7 years, Mr. Thakur has been at the forefront of creating a stronger reputation for the Group. He has worked closely with the Max Group’s businesses to co-create Group’s values and new brand positioning.

Nitin was previously the Public Relations Lead at Microsoft India. Over his 18 years of post qualification career, he has also worked with Vaishnavi, where he advised clients such as Titan, Tanishq, Tata Tea, Barista, HCL Infosystems etc.

Mr. P Dwarakanath

Mr. P Dwarakanath has been associated with the Max Group for nearly nine years, and was earlier heading the Human Capital function at the erstwhile consolidated Max India Limited as Director, Group Human Capital.
Mr. Dwarakanath is a veteran Human Resource professional, having a rich experience of over three decades.

He is on the board of several companies/institutions including GSK Consumer Healthcare Ltd. Previously, he worked with GlaxoSimthKline (GSK) for three decades as its Director, Human Resources and Administration, India & South Asia.

Mr. Dwarakanath has served as the President, National Human Resources Development Network (NHRDN), President of Delhi Management Association (DMA) and Regional President, Northern Region, AIMA.

Mr. Prashant Hoskote

Mr. Prashant Hoskote is responsible for the development and implementation of an integrated quality management approach for Max India and its Group companies.

Mr. Hoskote has 23 years of rich experience in the Quality function and has worked with reputed organizations in India and overseas, such as Mashreq Bank, Standard Chartered Bank, Taj Group of Hotels, Wipro Infotech Ltd. and Qimpro Consultants (Indian affiliate of Juran Institute Inc, USA).

Prior to joining Max India, Mr. Hoskote was the SVP and Head – Customer Experience and Quality Division at Mashreq Bank, Dubai. In this role, Prashant was heading the multi-country operations of the Customer Experience and Quality Division and was responsible for process re-engineering, development of a voice of customer research model, developing a Six Sigma DNA in the organization and driving the Balanced Scorecard implementation across key businesses.

Mr. Hoskote is a Bachelor of Science from Mumbai and holds a Diploma in Computer Science and Management from Mumbai. He is among the two in the country who have qualified as a Certified Trainer and Facilitator from the JURAN INSTITUTE, INC, USA. He is an External Examiner on the Tata Business Excellence Model (based on the Malcolm Baldrige National Award Criteria Model). He has qualified as a Six Sigma Black Belt and has a Leadership qualification from INSEAD, Paris.

Sandeep Pathak
Sandeep Pathak
Chief Financial Officer

Mr. Sandeep Pathak is Chief Financial Officer of Max India Limited effective July 1, 2019 and heads the Legal Function for Max Corporate. Sandeep was previously associated with Max Financial Services as Company Secretary and Head-Legal. He has been with the Max Group since July 2016 and has over 19 years of experience in the domains of Legal, Secretarial and Finance & Accounts. Prior to joining Max Group, he was working with Sembcorp Green Infra Limited and has also worked with organizations like Avantha Group, Calcom Vision Limited, Jindal Group of Companies and The Motor & General Finance Limited (MGF) in various roles.

Sandeep holds a bachelor’s degree in Commerce (Hons.) from Delhi University and is a qualified Company Secretary from Institute of Company Secretaries of India, qualified Chartered Accountant from Institute of Chartered Accountants of India, qualified Cost & Management Accountant from Institute of Cost Accountants of India and a law graduate from Delhi University.