OREANDA-NEWS. March 1, 2011. Mr. P. K. Jain has today joined as Director (Finance) of GAIL (India) Limited. A Chartered Accountant and an MBA in Finance from the University of HULL, UK, Mr. Jain has an experience of over 25 years in Finance and Accounts. As Director (Finance), he is in charge of Company's financial prudence and management for resource mobilization of Company’s Capex plan of Rs. 40,000 crore for ongoing and new projects in pipeline, petrochemicals, E&P, Gas retail business. The portfolio of Mr. Jain in GAIL includes Treasury and Debt management, Investment Decisions, Capital Budgeting, E&P, Pricing and Tariff Determination, as well as Finance management of various Projects.

Mr. Jain is also on the Board of GAIL's 100% subsidiary GAIL Gas Ltd as Part-Time Director. He joined GAIL in 1986 in the early stages and has grown with the company. He served as General Manager (Finance). Prior to joining as Director (Finance), he was Executive Director (Internal Audit) and headed the Internal Audit Department and ensured conduct of Risk Based Internal Audit of the business processes by ensuring timely remedial action in terms of revenue enhancements, cost savings, system improvements, etc. Mr. Jain as an expert in Financial Management has been associated with restructuring of Loan Portfolio, prepayment of high cost loan, raising funds through external sources like bonds (Domestic/International) through merchant bankers, term loans, ECB through investment bankers by evaluating the mix of debt and equity to have optimal cost of capital, reset the interest on OIDB loans, investment of Temporary Surplus funds through E-bidding process, implementation of Foreign Exchange Risk Management Policy etc. Mr. P K Jain has been associated in the management of working capital requirements, financing of various projects and has represented the Company at a number of road shows for IPO/Disinvestment.

His major achievements include Merger and Acquisition activities with Due-Diligence exercises of overseas retail business, finalization of LNG Purchase agreement from Ras Gas Qatar for PLL as also representation of GAIL team in the finalization process of Farm-in of two blocks. He has also been a member in the multidisciplinary team to set up business model of Petrochemical business besides handling finances for various projects such as DVPL/DUPL/DPPL in their tendering, EPC ordering, timely payment, capitalization of commissioned projects, effective tax management for optimal tax advantages and obtaining appropriate insurance policy to safeguard GAIL’s assets.