Mr. Chitale is an Independent Director. He holds a bachelor’s degree in commerce from the University of Mumbai and is a qualified Chartered Accountant. Mr. Chitale has nearly 40 years of experience as a practicing Chartered Accountant. He is a fellow member of ICAI and has served as the president of ICAI in the year 1997-1998. Mr. Chitale was also the Chairman of the Ethics Committee of BSE. He was a member of the Advisory Board on Bank, Commercial and Financial Frauds appointed by Central Vigilance Commission. Mr. Chitale was a member of the Working Group of Restructuring of Weak Public Sector Banks appointed by RBI (Verma Committee) and the Committee on Procedures and Performance Audit of Public Services appointed by RBI (Dr. Tarapore Committee). He was appointed as the Chairman of National Advisory Committee on Accounting Standards. He was also a member of the International Auditing Practices Committee of International Federation of Accountants. Mr. Chitale is connected with various social organizations. Mr. Chitale is also a member of the group of amalgamation of urban co-operative banks appointed by RBI, member of the Primary Advisory Committee of SEBI and Chairman of the Accounting Committee of Insurance Regulatory and Development Authority of India.
Mr.Chitale is a Director on the Boards of Larsen & Toubro Infotech Limited, ASERC(India) Limited, Ram Ratna Wires Limited, Essel Propack Limited, ONGC Petro Additions Limited, ITZ Cash Card Private Limited, Atul Limited, Principal PNB Asset Management Company Private Limited, and Lodha Developers Limited
Mr. Chitale joined the Board of the Company on July 6, 2004.