Chairman & Managing Director
Mr. Sajjan Jindal is the Chairman and Managing
Director of JSW Steel. A visionary business leader,
Mr. Jindal has been instrumental in transforming
JSW Steel and the broader JSW Group into a globally
respected conglomerate. His belief in a self-reliant
India is reflected in the Group’s focus on innovation,
sustainability, and world-class manufacturing.
Under his leadership, JSW has expanded into key
sectors including Steel, Energy, Infrastructure, and
Cement. Today, the Group operates some of India’s
most advanced and eco-efficient manufacturing
facilities.
Mr. Jindal was the first Indian to serve as Chairman of the
worldsteel Association, where
he currently chairs the Sustainability Committee
and serves on its Executive Committee. He is
also President of the Indian Institute of Metals
and former President of the Institute for Steel
Development & Growth (INSDAG). He has received
numerous accolades, including the Ernst & Young
Entrepreneur of the Year Award (2023), Business
Leader of the Decade (2025) by AIMA, and the
Willy Korf/Ken Iverson Steel Vision Award (2009).
Mr. Jindal holds a Bachelor’s degree in Mechanical
Engineering from Bangalore University.
Joint Managing Director & Chief Executive Officer
Mr. Jayant Acharya is the Joint Managing Director & CEO of JSW Steel and a member of its Board of Directors. He holds degrees in Chemical Engineering and a Master's degree in Physics from the Birla Institute of Technology, Pilani, India, and an MBA.
With over 37 years of industry experience, Mr. Acharya has been instrumental in JSW Steel's organic and inorganic growth, overseeing significant capacity additions and key acquisitions while embedding sustainability at its core. His leadership has been key in integrating our operations in India and overseas, establishing JSW Steel as the largest steel and coated steel producer in India.
Under his guidance, JSW Steel's product portfolio has expanded to include new and diverse offerings for both domestic and international markets. A focused approach has enhanced our supply chain reliability, raw material security through backward integration with mines for iron ore and coal, delivering capacity growth at lower specific costs per tonne and driving superior returns on investment.
Mr. Acharya is a respected voice in the steel sector, often sharing insights on sustainable steel production and consumption. He is on the Executive Committee and serves as the Vice Chair of the World Business Council for Sustainable Development, is a member of the National Committee of CII, and co-chairs the Steel Committee of CII.
Whole-time Director & Chief Operating Officer
Mr. Gajraj Singh Rathore is the Chief Operating Officer and Whole Time Director at JSW Steel. With over 37 years of experience in the steel industry, he has been instrumental in driving JSW Steel’s operational and strategic growth. He has led several key projects across multiple sites, ensuring timely and efficient execution aligned with the Company’s long-term vision.
During his nearly 35-year tenure at JSW Steel, Mr. Rathore has led several transformative initiatives across multiple locations. He led steelmaking and mill operations at the Vijayanagar Plant as Executive Vice President – Operations and played a critical role in the expansion and capacity ramp-up of the Dolvi Plant as its President. He has also pioneered the integration of digital technologies into day-to-day operations, enhancing efficiency, productivity, and decision-making across JSW’s integrated steel plants.
A strong advocate for sustainable business practices, Mr. Rathore has championed JSW’s flagship SEED programme at Vijayanagar and Dolvi and its successful implementation across all our locations. In recognition of his contributions, he was honored as the COO of the Year for Technology Integration by Steel and Metallurgy. He is actively involved with industry bodies such as FICCI and SIMA, where he continues to promote innovation and sustainability within the sector.
Mr. Rathore holds a Bachelor's degree in Metallurgy from NIT Tiruchirappalli and has completed executive certifications from Brown University.
Director, Commercial & Marketing
Mr. Arun Sitaram Maheshwari has been an integral part of the JSW Group leadership team for over 29 years, contributing meaningfully to the Group’s overall growth. As JSW Steel enters its next phase of expansion, his extensive experience across Commercial, Marketing, Strategy and M&A will continue to support the Company’s sustained growth and long-term success.
During his tenure, Mr. Maheshwari has played a key role in securing critical raw materials for the Steel and Power businesses, shaping corporate strategy, and strengthening JSW’s international presence.
His entrepreneurial approach has contributed significantly to the development of the Group’s steel, commodities and infrastructure businesses.
In his five-year tenure as Joint Managing Director & CEO of JSW Infrastructure, he led the transformation of the business from a captive port services company to a multi-dimensional & multi-locational infrastructure enterprise. Under his leadership, JSW Infrastructure became the second-largest private commercial port company in India and also led the successful listing of JSW Infrastructure on the BSE and NSE in October 2023.
Independent Director
Mr. Seturaman Mahalingam, a Chartered Accountant by qualification, began his career as an IT consultant and played a pivotal role in marketing Tata Consultancy Services (TCS) globally, developing processes, and creating large software development centres for the Company. He has held key positions such as Executive Director and Chief Financial Officer (CFO) of TCS, retiring in February 2013 after over 42 years of service.
Before becoming CFO in February 2003, Mr. Mahalingam managed various critical functions at TCS, including Marketing, Operations, Education and Training, and Human Resources. He oversaw the Company’s operations in London and New York during the early stages of TCS's global expansion.
Mr. Mahalingam has also served as President of the Computer Society of India, former Chairman of the Southern Region of the Confederation of Indian Industry (CII), and President of the Institute of Management Consultants of India. He was the Chairman of the CII National Council Task Force on Sector Skills Councils & Employment and was a member of the Tax Administration Reform Commission (TARC) set up by the Government of India under the Chairmanship Dr. Parthasarathi Shome.
Mr. Mahalingam has been recognised as the best CFO in various years by Business Today, International Market Assessment (IMA), CNBC TV18, CFO Innovation, Finance Asia, and Institutional Investors.
Independent Director
Haigreve Khaitan (DIN: 00005290) is a Partner of Khaitan & Co. Khaitan & Co has grown to become India's largest full-service law firm and the most advanced legal institution in the country.
With close to 30 years of professional experience, he has led some of the most high-profile and challenging matters in India across industries, be it for companies, financial institutions and boards of directors.
As a strategic advisor, he is often brought onboard to devise innovative commercial solutions to solve complex legal and regulatory matters, including mergers and acquisitions, restructurings and insolvencies, structured financing as well as critical disputes, governance challenges and white-collar crime matters.
He regularly participates in high-level policy-making bodies, including recently as a member of the Competition Commission of India's Committee for the Digital Competition Act, a member of the Securities and Exchange Board of India's Committee on Fair Market Conduct, and a member of the Industry Standard Forum (FICCI, CII, ASSOCHAM) for setting implementation standard for the provisions of SEBI Listing Regulations.
He has been consistently recommended by the world's leading accreditation bodies as one of the most prominent lawyers in the country, describing him as an "outstanding lawyer" who is "extremely good and very sharp when it comes to large transactions."
Independent Director
Mr. Marcel Fasswald began his career in 1995 as a design and execution engineer at Mannesmann Demag Hüttentechnik, which later became part of SMS group in 1999. Since then, he has been associated with SMS group, where he served as Chief Technology Officer and Chief Operating Officer on the Managing Board. Prior to his appointment to the Managing Board in 2015, he was Technical Director and Head of Engineering and served as CEO and Managing Director of SMS group in India for six years.
Mr. Fasswald, a qualified engineer, brings extensive international experience from various management positions in Plant Engineering at SMS. Additionally, he was the Chief Operating Officer of Thyssenkrupp Industrial Solutions AG from April 2018 to September 2018 and CEO from October 2018 to October 2019. His profound knowledge of the Plant Engineering business, combined with his operational expertise and international experience, will be of immense benefit to JSW Steel.
Independent Director
Mrs. Nirupama Rao is a retired Indian diplomat, Foreign Secretary, and Ambassador. She was educated in India and, she joined the Indian Foreign Service in 1973. Over her four-decade-long diplomatic career, she held several significant positions. Mrs. Rao was India's first female spokesperson in the Ministry of External Affairs, New Delhi, the first female High Commissioner to Sri Lanka, and the first Indian woman Ambassador to the People’s Republic of China. She served as India’s Foreign Secretary from 2009 to 2011, after which she was appointed as India’s Ambassador to the United States, serving from 2011 to 2013.
Independent Director
Fiona Paulus has 40 years of investment banking experience. She held senior roles at leading investment banks. These include the Head of International Investment Banking at CIBC, EMEA; Head of Private Equity & Infrastructure Funds at Royal Bank of Scotland; Global Head of Energy & Resources at ABN AMRO Bank, and various senior roles at Credit Suisse, Societe Generale, JP Morgan & Citigroup in the UK, US, Europe, Australia and Latin America. Fiona is a Senior Advisor at Gleacher Shacklock LLP, a leading, UK M&A boutique. Currently, she is a Non-Executive Director of JSW Steel Ltd, the largest steel company in India with a market cap of $40bn; Nostrum Oil & Gas plc, a UK listed oil and gas company; ACG Acquisition Company Ltd, the first UK listed, special purpose acquisition company focused on building a global portfolio in battery metals businesses; and the Interpipe Group, a private industrial group serving the worldwide energy and infrastructure sectors.
Independent Director
Mr. Sushil Kumar Roongta is an Electrical Engineer from the Birla Institute of Technology & Science (BITS), Pilani and Post Graduate Diploma in Business Management - International Trade, from the Indian Institute of Foreign Trade (IIFT), New Delhi. He is a Fellow of All India Management Association (AIMA). Mr. Roongta has a wide and varied experience in Public Sector Undertakings.
Mr. Roongta is the former Chairman of Steel Authority of India Limited (SAIL). He was also the first Chairman of International Coal Ventures Limited (ICVL), a joint venture of five leading PSUs President of Institute of Steel Development & Growth (INSDAG). Mr. Roongta has been associated with various Apex Chambers, as Chairman of "Steel Committees of FICCI & CII, member of National Council of CII/NCEM of FICCI, and Advisory Council of ASSOCHAM Brussels. He was a member of the Executive Committee of the worldsteel Association.
He was also Chairman of the Board of Governors of IIT-Bhubaneswar.
Mr. Roongta is considered as an expert in the fields of Metal, Power and Public Sector turnarounds. He was Chairman of the "Panel of Experts on Reforms in Central Public Sector Enterprises", constituted by Planning Commission. Widely known as 'Roongta Committee, its report is taken as a benchmark for Public Sector Reforms. Mr. Roongta is presently serving as Independent Director on the Boards of several reputed listed companies.
Mr. Roongta is recipient of a number of awards including (Standing conference of public enterprises) SCOPE Awad for Excellence & Outstanding contribution to the Public Sector Management) - Indjvidual Category 2007-08, IIM-JRD Tata award for excellence in Corporate Leadership in Metallurgical industries, 2016 and BITS Pilani Distinguished Alumnus Award -2022.
Nominee Director, JFE Steel Corporation, Japan
Mr. Hiroyuki Ogawa holds a Master’s degree in Engineering from the Department of Mechanical Engineering, Graduate School of Engineering, The University of Tokyo. He also has a Master’s degree in Science (Management of Technology) from MIT and a Master’s degree in Science (Engineering Management) from Stanford University.
Mr. Ogawa is a member of the Board and Executive Vice President in charge of the Global Business Development Headquarters, Digital Transformation Strategy Headquarters, Technical Solution Dept., Cyber Security Management Dept., Business Process Innovation Team, Raw Materials Dept (I&II) and Materials & Machinery Purchasing Dept. of JFE Steel Corporation. Prior to his positions at JFE Steel’s head office, he was Vice President, General Superintendent, West Japan Works, Fukuyama, Assistant General Superintendent, West Japan Works- Kurashiki. He joined Kawasaki Steel Corporation in 1985.
Nominee Director of KSIIDC
Mrs. Khushboo Goel Chowdhary is an officer belonging to 2008 batch of the Indian Administration Services. She holds a Master’s degree in Public Administration from the Harvard Kennedy School, Harvard University; Master’s degree in Business Administration from the Faculty of Management Studies, Delhi University and a Master’s degree in Public Policy from Indira Gandhi National Open University.
She has over a decade of experience in various high-impact administrative roles in Government. She has also held various other postings in public transport urban sector, urban and revenue sector. Her experience extends beyond national borders, as she represented India at various international forums, including G-20, Anti-corruption working Groups, BRICS and the United Nations Convention against Corruption. She has also completed various specialised training programs including overseas training in governance and public procurement, courses in Micro Masters Program in Data, Economics and design of Policy (DEDP) of MIT which has added a global perspective to her extensive experience in Indian Administration.
Directors adhere to the minimum attendance criteria for attending Board meetings as per the Companies Act, 2013 ('Act'). In accordance with sub section 1(b) of Section 167 of the Act, the Directors are required to attend a minimum of one meeting conducted during the year. Over last 3 years, the average attendance rate at Board meeting has been 91.29% demonstrating that all the Board members attend the meeting. During the reporting year, eight Board meetings were conducted, the minimum attendance of an individual Director was 5 out of 8 which aggregates to 62.5%.
Audit Committee, a sub-committee of the Board of Directors, comprises Independent Directors. The Audit Committee oversees our Company’s financial reporting process, approves related-party transactions and regularly reviews financial statements, changes in accounting policies and practices, audit plans, significant audit findings, adequacy of internal controls, compliance with accounting standards, appointment of auditors, among others.
The Nomination and Remuneration Committee’s constitution and terms of reference comply with the provisions of the Companies Act, 2013 and Regulation 19 and Part D of the Schedule II of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The primary responsibilities of the committee include identifying persons qualified to become Directors, decide on Senior Management appointments and remuneration, evaluating the performance of every Director. Additionally, the committee reviews the extension of tenures for Independent Directors based on their performance evaluations.
The Stakeholders Relationship Committee periodically looks after the functioning of our Company’s shareholder/investor grievance redressal system and its improvements, besides reporting serious concerns, if any.
The Risk Management Committee develops a comprehensive risk management policy, reviewing it periodically, at least once every two years, taking into account evolving industry dynamics and complexity. Its aim is to ensure that our Company has suitable methodologies, processes, and systems in place to monitor and evaluate business-related risks effectively.
The Project Review Committee closely monitors the progress of large projects, while ensuring seamless coordination among various project modules. Its primary aim is to ensure timely project completion within the allocated budget.
The Business Responsibility/ Sustainability Reporting Committee is responsible for the adoption of National Guidelines on Responsible Business Conduct (NGRBC) in JSW Steel’s operations. Additionally, the committee addresses issues concerning climate change, water, and biodiversity, providing guidance on necessary actions to promote sustainability practices.
The Corporate Social Responsibility Committee formulates and recommends the Corporate Social Responsibility Policy to the Board. This policy outlines a selection of CSR projects or programmes that our Company intends to undertake and recommends the expenditure to be allocated to each activity. Additionally, the committee periodically monitors our Company’s CSR policy.
The Hedging Policy Review Committee implements protective measures to hedge against forex losses and makes decisions regarding all matters related to commodities hedging. It also takes steps to hedge against commodity price fluctuations.
The Finance Committee is responsible for approving the availment of credit/ financial facilities, opening new branch offices of our Company, making loans to Individuals/bodies corporate, and placing deposits with other companies/ firms. Additionally, it is authorised to open current accounts, collection accounts, operation accounts, or any other accounts with banks, as well as to authorise personnel to sign excise, import, and export documents, and execute customs house documents.
The JSWSL ESOP Committee is tasked with determining the terms and conditions for granting, issuing, re-issuing, cancelling, and withdrawing Employee Stock Options (ESOP) as necessary. It is also responsible for formulating, approving, evolving, deciding upon, and implementing any sub-scheme or plan for granting options to employees, as well as issuing directives to the trustees of the JSW Steel Employees Welfare Trust and amending the trust deed if necessary. Furthermore, the committee establishes procedures for ensuring fair and reasonable adjustments, as well as methods for satisfying any tax obligations related to the options or shares. It also outlines procedures for the cashless exercise of options.
The JSWSL Code of Conduct Implementation Committee is responsible for implementing the 'JSWSL Code of Conduct to Regulate, Monitor, and Report Trading by Insiders' and ensuring compliance with the SEBI (Prohibition of Insider Trading) Regulations, 1992.
Share Allotment Committee is responsible for offer, issue and allotment of shares of all kinds and/ or any other financial instrument(s) representing either equity shares or convertible securities, as may be approved by the Board from time to time. It is also responsible for approving and issuing the letter of allotment to the proposed allottees and to register the names of the allotees in the Register of Members of our Company.
The Share/ Debenture Transfer Committee approves transmission/ transposition of the shares/ debentures, issue of letter of confirmation in lieu of duplicate share certificates and dematerialisation/ rematerialisation of the securities of the Company upon request by the holders.
The Committee meets from time to time as required.
The Inquiry Committee is responsible for dealing with any leak of Unpublished Price Sensitive Information (UPSI) or suspected leak of UPSI, upon becoming aware of such leak; it also conducts inquiries as laid out in the Policy in case of such leaks or suspected leaks and informs the Board promptly of such leaks, inquiries and the result of such inquiries.