Lord Meghnad Desai joins Elara Securities Board

Leading institutional trading and broking firm Elara Securities, today announced that Lord Meghnad Desai has joined the Company's Board of Directors as a Non-Executive, Independent Professional Director.

Lord Meghnad Desai is Emeritus Professor of Economics at the London School of Economics and Political Science (LSE) where he taught from 1965 to 2003. He has written over 25 books and 200 articles in learned journals. He was awarded the Pravasi Bharatiya Puraskar in 2004 and the Padma Bhushan in 2008. He is an Honorary Fellow of the London Stock Exchange(LSE). He wrote his first book Marxian Economic Theory in 1973 followed by Applied Econometrics in 1976 and Marxian Economics, a revised edition of his 1973 book in 1979. He wrote Testing Monetarism, a critique of monetarism, in 1981. In 2002, Desai wrote a book Marx's Revenge: The Resurgence of Capitalism and the Death of Statist Socialism which states that globalization would tend toward the revival of socialism. His latest book is The Rediscovery of India (Penguin, India, Bloomsbury,UK).

He has been active in the British Labour Party, becoming Chairman between 1986 and 1992, and was made Honorary Lifetime and President of Islington South and Finsbury Constituency Labour Party in London. He was made a life peer as Baron Desai, of St Clement Danes in the City of Westminster, in April 1991.

"Lord Desai is luminary in the field of Economics and we are honoured to have him on our board. As we expand globally, his counsel and presence will be the right catalyst to pitchfork our growth in newer areas and geographies," said Raj Bhatt, Vice Chairman, Elara Capital Plc. "It also demonstrates our commitment as a firm to adopt global standards and benchmarks in an environment where governance and compliance issues are key areas of focus," he added.

"Elara Capital has grown rapidly in its short journey of 10 years and has a exciting future. I would be more than happy to play a role in their success and look forward to this association. Apart from being an emerging global financial house, I appreciate the entrepreneurship and value systems of the company," said Mr Desai.

Source : Equity Bulls

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