Championing Corporate Governance: Conversation with Janhvie Khele, Company Secretary at Thermax

Meet Janhvie Khele, an accomplished legal and corporate governance professional with over 17 years of extensive experience in the field. Janhvie currently serves as the Company Secretary & Compliance Officer at Thermax Ltd., one of India’s top 500 listed companies.

Her illustrious career includes pivotal roles in renowned organizations such as Tata AutoComp Systems Ltd., Cummins India Ltd., and AXA Business Services Pvt. Ltd. Throughout her career, she has been a strategic advisor in legal, secretarial, and governance matters, with a strong focus on regulatory compliances, contract management, litigations, and corporate actions.

Beyond her core professional commitments, Janhvie is an advocate for corporate social responsibility (CSR) and pro-bono activities. She has led several process improvement initiatives and has been instrumental in training fresh Company Secretary and legal interns. Her achievements have been recognized with several awards, including the prestigious "Under 40 Rising Star" national award from Legal Era and the "Champion - Create Behavior" award at Thermax.

Her academic accomplishments include a Strategic Management Programme from the Indian Institute of Management, Kozhikode, a Bachelor of Laws from Savitribai Phule Pune University, and a Master's in Commerce from the University of Pune and ofcourse the Company Secretary qualification. Janhvie is also proficient in multiple languages, including English, Hindi, Marathi, and elementary Japanese.

In this interview, Dr Anand Wadadekar delves into Janhvie's professional journey, her insights on industry trends, and her advice for aspiring professionals in the field of corporate governance and compliance.

Janhvie can be reached at janhvie@gmail.com | Her LinkedInProfile

1. Can you talk about your school and college life in terms of your studies, exams, scoring marks and extra-curricular activities?

As a child, I was quite shy and reserved, and my grades in the early years of school were below average. However, things changed when I reached the 10th grade—I began to take my studies seriously and worked hard to improve. Growing up in a joint family, I often learned from my experiences of my sister and other cousin. With a majority of them pursuing science stream, it was obvious for all that I too will choose the same. However, I decided to take up commerce stream which was more of my interest. I was fortunate that my parents supported my decision.

My college life was simple. While it was common for students to attend coaching classes for subjects like tax and accounts in the 12th grade, I chose to study independently and learn by attending all my college lectures. In that sense I was a sincere student. I would really like to thank my father, who personally taught me accounts. As a businessman, he guided me on the practical aspects of the subject, and thanks to his help, I scored 96 out of 100 marks in accounts in my 12th grade without attending any extra classes.

Music and dance were my favourite hobbies, and I would often take part and win in several dance competition.  I also learned playing badminton and yoga. Apart from this being on the creative side, I also loved painting, writing poems, gardening.

2. What inspired you to choose a career in law and corporate governance? How was your experience of giving one of the tough examinations in Company Secretary course and how was your study technique?

I remember in Std 11^th during our Secretarial Practice class, our professor introduced us to various streams in commerce and highlighted the growing popularity of the CS (Company Secretary) profession. It was then that I decided to pursue CS. The path wasn’t easy, but I knew it would require a lot of hard work, and I was determined to take ownership of it. I wasn’t a big believer in attending multiple coaching classes, so I opted for coaching from the ICSI Pune chapter.

I took my foundation exam immediately after my 12th grade and cleared it on the first attempt. I had always considered myself an average student, but with lot of hard work and dedication, I began to believe in my potential, which helped me move forward. After completing the foundation course, I decided to do my internship at a PCS firm in Pune. This meant juggling a nearly full-time job, studying for CS exams, and completing my bachelor’s in commerce. I also had a keen interest in foreign languages, so I enrolled for a Japanese language certificate course.

During my CS exams, I dedicated 13-15 hours a day to studying and preparation. I would prefer early morning hours as that was the best time for me to focus. Before starting any subject, I would first plan the timelines with the number of days I would require studying a particular subject. I would accordingly calculate the number of pages to be studied on each day and each hour. I had a thorough timetable with dedicated hours planned for having food, breaks and for my daily activities, which I followed very strictly. I also dedicated time for solving earlier exam question papers which gave me an idea of the question pattern and the way to answer them. This also meant sacrificing on my sleep, entertainment, family time and other social functions. 

I cleared my Inter Group 2 in the first attempt but struggled with Group 1 which I cleared after two attempts. This was a challenging phase for me, but this failure taught me the value of success and the importance of perseverance. I realized that hard work always pays off. Also my family was a big support who stood by me during this difficult time.

I vividly recall a phone call from my best friends mom, who also encouraged me during this time when on the verge of giving up on my CS career. She told me that this phase will soon go away and after that it will all be a success story. This motivated me to move ahead and eventually, I cleared my Inter level as well. By the time my internship ended, I had completed my CS course and obtained my membership. After joining my first company, my boss encouraged me to pursue law to complement my CS career. Looking back, that was a great decision, as it continues to add value to my role today.

3. You have had an illustrious career with several renowned organizations. Could you highlight some of the most challenging and rewarding experiences you’ve had?

Whether in the manufacturing or service sector, the rapidly changing regulatory environment has always posed significant challenges. However, I believe that changing with times and making best use of technology can provide promising solution. Making use of automated tools, reduces manual dependency, provides accuracy and reduces chances of non-compliances. Using this strategy, I have always relied on and implemented tools for compliance management, board meetings, insider trading compliances, etc to establish a robust system for the company. I ensure that the team regularly discusses new amendments, assesses their impact on the company, and communicates this information to relevant stakeholders through a periodically published e-newsletter. I also promote awareness sessions across various functions to educate employees on critical SEBI regulations.

As a compliance professional, I initially struggled to collaborate with business teams due to a lack of alignment between legal requirements and business objectives. My focus was often on risk mitigation which conflicted with business exigencies. Recognizing this as an opportunity for growth, I engage with business teams to make them aware of risks and also provide viable solutions so that there was complete alignment. Adopting this approach over the years has enabled me to effectively collaborate with cross-functional teams on several critical projects.

Another challenging instance was during the COVID-19 pandemic where I had to ensure smooth functioning of organization in a remote manner navigating with key compliances issues related to data privacy, contract revisions, crafting remote work policies and advising on employment laws along with keeping up the with rapidly changing local regulations. Providing timely legal advice directly influenced the strategic decisions and the organisation was able to adapt to challenges and make informed decisions. This not only protected the company’s interests but also contributed to its overall resilience.

Beyond the challenges mentioned earlier, I faced additional hurdles in my professional journey, particularly in transitioning from an individual contributor to a managerial role. I began my career as an individual contributor, learning valuable lessons from senior colleagues and mentors. Though the transition to leadership was initially challenging, I eventually grew into a managerial role, where I guided a sizable team, nurtured their growth, and helped advance their careers. This experience allowed me to witness not only my own development but also the collective success of the team I was privileged to lead. Additionally, shifting from the manufacturing sector to the service sector brought its own set of challenges. Despite the difficulties, I sought guidance from mentors and successfully navigated various industries, gaining experience in both public and private companies.

 

These challenging situations opened doors to new opportunities and new ways of working. Being able to easily adapt to these changes has made me any my teamwork with agility and proactiveness. And with this mindset, my team and I have received several awards, recognition and accolades by external authorities, the Board of Directors and senior management of all the companies wherever I worked. Recently, recognizing the good governance practices, Thermax was awarded the Golden Peacock National Award – 2023 for corporate governance.

4. As the Company Secretary & Compliance Officer at Thermax Ltd., what are your primary responsibilities and key focus areas?

As the Company Secretary & Compliance Officer at Thermax Ltd., my primary responsibility is to uphold the highest standards of corporate governance by ensuring the company consistently adheres to legal and regulatory requirements. This includes overseeing compliance with statutory regulations, such as timely filings and disclosures to stock exchanges. A key aspect of my role is stakeholder management, which involves coordinating with the Board, management, shareholders, and regulators. I also provide administrative support to the Board of Directors by organizing board meetings, preparing agendas, and recording minutes. Additionally, I act as a liaison between the company and its shareholders, ensuring effective communication and addressing their queries and concerns.

Another critical focus area is identifying and managing risks related to compliance and governance, as well as implementing measures to mitigate these risks. Developing and enforcing policies and procedures to ensure compliance with legal and regulatory requirements is also a vital part of my role. Promoting ethical practices and ensuring the company operates with integrity is also an important part of my role. These responsibilities help ensure the company operates smoothly within the legal framework.

Beyond these duties, I am deeply invested in my team and my function. Strengthening internal processes, keeping my team motivated, and guiding them in their career growth are areas that are particularly close to my heart.

5. How important is it for professionals to have a strong understanding of ESG (Environmental, Social, and Governance) principles?

Having a strong understanding of the three elements of ESG (Environment, Social, Governance) is becoming increasingly important for professionals considering the growing awareness. In my view, legal and compliance functions are crucial in driving sustainability initiatives within companies. They ensure adherence to relevant laws, monitor regulatory compliance, implement policies aligned with ESG principles, and address matters related to social responsibility and corporate governance.

Moreover, compliance functions facilitate accurate and transparent ESG reporting, ensuring that sustainability efforts are effectively communicated to stakeholders. Key aspects that contribute to the overall success of ESG initiatives from a compliance standpoint include regular stakeholder engagement, training employees on the compliance aspects of ESG, identifying and addressing compliance risks, and conducting regular audits to track compliance with ESG policies and identify areas for improvement.

Therefore, ESG knowledge is no more just “nice to have” for CS professionals, but it is becoming essential with the evolving stakeholder expectation and the lens with which businesses are scrutinised based on ESG parameters.

6. What advice would you give to freshers entering the field of secretarial and corporate governance and also for mid-career professionals looking to advance in their careers?

For freshers entering the field of secretarial and corporate governance, my suggestion is to first focus on building a strong foundation by thoroughly understanding the aspects of corporate law, governance, compliance and keeping updated on the constantly evolving landscape. Those who would be joining as fresher company secretaries look out for as much learnings as possible and be open for such opportunities even if the salary is not very lucrative. 

I would also suggest developing effective communication skills, maintaining high standards of integrity and ethical behaviour in professional as well as personal life, as your actions shape who you become.

Mid-career professionals looking to advance in the career, should continue to focus on learning and upgrading their skillset, exploring new areas that can diversify your profile. Networking and being part of like-minded community groups will develop you for higher roles. Also once you gain experience, consider mentoring your junior team members. This sharing of knowledge will not only enhance your own skills but also establish you as a trusted colleague who is interested in the team’s growth. 

This is something that even I am working on so that I do not stagnate but learn by engaging with industry peers and remain in a growth mindset.

And one of the most important advice I would like state with my personal experience is to seek mentorship. I would highly recommend freshers and those in their mid-career to find a mentor who can guide you not only through the early stages of your career but also prepare you for your next big role. This will provide an invaluable insight which will continue throughout the career.

I’d also like to emphasize that, even if the path is difficult, you can accomplish anything if you commit to it and work sincerely toward your goals. A career in CS and corporate governance is in demand and offers lucrative opportunities, so if you’re passionate about it, this is definitely a field worth considering. Progress in any career comes from investing in yourself—constant learning, self-improvement, and networking are critical components of long-term success.

7. How do you see the field of corporate law and corporate governance evolving in the coming years? What are the current trends in corporate compliance that professionals should be aware of?

The role of Company Secretaries has evolved significantly over time. Once seen primarily as record keepers focused on administrative and compliance tasks, company secretaries are now regarded as strategic partners within organizations.

Company Secretaries are now required to stay abreast about new regulations, offer guidance on compliance strategies, and facilitate effective communication between the board, management, and stakeholders. With rising need of governance expectations, company secretaries play a vital role in promoting a culture of compliance, fostering transparency, and encouraging good governance practices. Additionally, with the increasing importance of environmental, social, and governance (ESG) factors, their role is increasingly tied to promoting sustainable business practices and transparently disclosing to stakeholders. With data privacy laws gaining attention, company secretaries need to proactively focus not only on ensuring compliance with legal requirements but also adopt best practices to protect data and build trust with stakeholders.

Artificial intelligence (AI) is presenting new opportunities for company secretaries, which can be leveraged to enhance compliance monitoring, assess risks, and manage data more effectively. It’s crucial for company secretaries to view this as a chance to upgrade their skills, stay informed about emerging technological trends, and use these tools to enhance their roles.

8. If you could have a superpower at the office for one day, what would it be and how would you use it?

If I could have a superpower at the office for one day, I’d choose the ability to instantly grasp and resolve any challenge or issue, just like a super woman. I’d provide personalized support to each person to overcome any lingering challenges, boosting overall productivity and reducing stress in the office.

Emphasizing growth and contribution, I would promote weekly learning goals and encourage a desire to contribute to society. I would also advocate for incorporating sustainability into every aspect of work and home life.

Furthermore, I would champion processes that add value to the company and its stakeholders, including employees. I’d encourage a healthy lifestyle by ensuring regular breaks for destressing, promoting nutritious eating, and integrating exercise breaks into the daily routine. I would create work atmosphere where employees & stakeholders would enjoy working with lot of passion which would eventually result in a great output.

9. How has your family supported your career, and how do you balance your professional commitments with family time? Outside of work, what hobbies and interests do you pursue? How do they contribute to your overall well-being?

I am deeply grateful to my parents, who have always supported my career decisions and stood by me like a pillar at every stage of my education and professional journey. I am also fortunate to have an amazing husband who fully understands the importance of my career and consistently encourages me in all situations. This mutual understanding allows us to share our domestic responsibilities and find time not only for family, friends, and our passions but also for learning new skills, motivating each other to achieve our growth goals. Strong alignment on our individual goals and common purpose in life helps us to complement each other and strengthen our relationship. I am equally thankful to have a spiritual mentor and a life coach who have been instrumental in helping me move closer to my goals. Their guidance has been invaluable in my journey, and I couldn’t have achieved what I have without their support.

Also, with several years in employment now, I have learnt that in reality there is no concept such as work life balance. You have to always juggle between the work exigencies and family priorities and choose the side which requires most of your attention at that specific time.  This mindset has helped me to give my best wherever I am and enjoy my work as well as social time.

Outside of work, I cherish spending time with my family and friends. As a spiritual person, I enjoy contributing my time for activities related to the NGO I am associated with and read related books. Being creative, I love painting and practicing yoga. I also like to participate in several CSR and pro-bono activities related to teaching underprivileged students at local schools. These aspects of my life play a significant role in my mental and physical well-being, giving me the vitality and enthusiasm to tackle challenges and always give my best.

(C) Dr Anand Wadadekar