ICCL - Management Team
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Management Team

Devika Shah has assumed office as the MD & CEO with effect from January 1, 2018.

Devika comes with over 30 years of rich experience with BSE & has deep understanding of the exchange and clearing corporation related operations and regulations. During her tenure at BSE, she has headed various functions, in the areas of regulatory & business, including surveillance, investigation & inspection, trading operations, clearing & settlement, listing membership, Investor Protection Fund, business development, accounts, legal & regulatory communications.

She holds a Bachelors in Commerce degree from the University of Mumbai & is a Fellow member of the Institute of Chartered Accountants of India.


Tushar Ambani has been associated with BSE Ltd since 1984. He has exhaustive knowledge of Trading, Clearing & Settlement systems and processes of Stock Exchange and Clearing Corporation.

He has a rich experience of over 29 years. Tushar Ambani handles day to day operational functions pertaining to Clearing and Settlement activities of ICCL for various segments of BSE viz. Equity Cash Segment, Equity Derivatives Segment, Currency Derivatives Segment, Securities Lending and Borrowing (SLB), Indian Corporate Debt Market (ICDM) and Mutual Funds Segment. Additionally, he handles various development projects pertaining to Clearing and Settlement processes for existing segments and new segments of Indian Clearing Corporation Ltd.

Nimeshkumar Mistry has assumed office as the Chief Financial Officer with effect from November 07, 2019.

Nimeshkumar heads all finance, accounting, treasury and taxation functions at the Clearing Corporation. Nimeshkumar has experience over 15 years with BSE and other corporate entities. During his tenure at BSE, he was looking at finance functions and taxation, designated as Additional General Manager at BSE.

He holds a Bachelors in Commerce degree from Mumbai University, He is a qualified Chartered Accountant