Polaris software lab has announced its fourth quarter results. Vision, perseverance, and empowering these are the three most important words for wannabe entrepreneurs, according to arun jain, chairman and ceo of polaris financial technology ltd. Three words for entrepreneurs arun jain, chairman and ceo. The merged entity had a 12member board seven directors from polaris, three from citigroup and two independent directors proposed by jain.
View the profiles of professionals named arun jain on linkedin. With a rich suite of products across the organisation, we are an authority on vertical and integrated products that enable institutions to meet their ambition to be the principal service provider to their customers. The design thinking workshop by intellects arun jain. Mar 03, 2016 market regulator sebi today barred polaris software labss cmd arun jain from securities market for a period of two years for alleged insider trading in the companys shares. In 1993, he founded polaris software lab, which recorded a cagr of over 100 per cent during the seven years period 1993 to 2000, after using. Arun jain and rajiv malhotra, senior vicepresident of polaris were arrested by the indonesian police on december in jakarta over a commercial dispute between the chennaibased software company. In 1993 he started polaris software lab which has today grown into a rs600mn company. Ibm signs deal with polaris ft for social software solutions. Arun jain, founder of polaris group and chairman and managing director of. Arun jain was the chairman and managing director of erstwhile polaris software lab. How arun jain built his fortune with polaris business standard news. Read more about sebi bars polaris arun jain from securities mkt for 2 years on business standard. He is the chairman and managing director of intellect design arena limited, an it software products company in.
The case dates back to 2000 when polaris software was looking at acquiring usbased data inc. Arun jain, chairman and ceo, polaris says, the result is good, 9% quarteronquarter qoq revenue growth is a sign of picking up. Counsel for both the parties state that in view of peculiar facts of present case. Intellect is a specialist in applying true digital technologies, the worlds first full spectrum banking and insurance technology products company, across consumer banking, central banking, transaction banking, risk, treasury and markets and insurance. Bombay indian software company polaris software laboratories ltd. Oct 10, 2012 the rajaratnam bug has hit the indian shores. About us intellect design arena creates financial technologies that help banks lead businesses on the path to growth and success. Mr arun jain, chairman and managing director, and founder of the chennai based polaris software lab ltd, has set a precedent for other.
Arun jain born 30 december 1959 is a chennaibased indian industrialist, investor and philanthropist. Will business restructuring fuel polaris financial. Ceo of indias polaris software is arrested by indonesian police. See the complete profile on linkedin and discover aruns connections. In 1993, he founded polaris software lab, which recorded a cagr of over. Polaris arun jain heads back home the financial express. Polaris software, based in the southern city of madras, said chairman and chief executive arun jain was detained last friday after a complaint by a client, indonesias bank artha graha. Bbc news business india seeks to free software boss. Q3 results arun jain and arup gupta on cnbc part 2.
The appeal was filed by jain against the securities and exchange board of india order passed on october 9 last year. Sebi bars polaris arun jain from securities mkt for 2 years. Polaris arun jain banned by sebi for 2 years on insider. Sebi bans polaris promoter arun jain from the market for 2. The smart ceo inspiring india october 2014 full story. Over the last 20 years, the organisation specialises in developing solutions for financial services using technology. Polaris cmd arun jain not to draw salary the hindu businessline. Jain and malhotra were released by the police after major diplomatic intervention by indian government.
It is a moment of pride for me as we are launching the ft grid which we dreamt of in 2003, polaris software lab chairman and ceo arun jain told reporters after formally unveiling the service. It offers human capital management software, payroll software. Sebi penalizes polaris arun jain for insider trading. Dec 20, 2002 arun jain and rajiv malhotra, senior vicepresident of polaris were arrested by the indonesian police on december in jakarta over a commercial dispute between the chennaibased software company. See the complete profile on linkedin and discover aruns connections and. The securities and exchange board of india has banned polaris software lab ltd s promoter arun jain from dealing in the securities market for two years accusing him of violating insider trading norms. Polaris software, based in the southern city of madras, said chairman and chief executive arun jain was detained last friday after a. He was also the founder, chairman and ceo of polaris consulting and services ltd. Arun jain intellect chairman, retail banking systems, central. In december 2002, the founder and ceo of midtier software company polaris then polaris software labs, and now polaris financial technologies. The polaris group today symbolizes global leadership in financial technology. Sat sets aside sebi order barring polaris arun jain from.
Why did arun jain sell polaris consulting and services. Polaris chief detained by indonesian cops shobha warrier in chennai december 17, 2002 12. Nov 27, 2015 market regulator sebi on thursday slapped a fine of rs,1. After all, he had built polariss software services business painstakingly for more than 20 years from scratch to rs. The design thinking workshop by intellects arun jain smartceo. Sebi orders seizing of rs 2 crore gains in polaris insider. How arun jain built his fortune with polaris business. The new belfast center, based at the northern ireland science park in titanic quarter, will be developed in three phases.
Arun jain hereinafter referred to as the noticee in the shares of ms. Arun jain, promoter of chennaibased polaris software lab now polaris software consulting, has clarified that the ex parte interim order by sebi on november 24 against him was a matter pertaining t. Sebi conducted investigation into the dealing in the scrip of polaris software lab. Ceo of indias polaris software is detained by indonesian. Nov 20, 2015 how arun jain built his fortune with polaris. Market regulator sebi today barred polaris software labss cmd arun jain from securities market for a period of two years for alleged insider trading in the companys shares. Sebi fines polaris promoter arun jain in insider trading. Three words for entrepreneurs arun jain, chairman and. Jakarta releases polaris cmd arun jain times of india. Polaris software enters cloud computing the hindu businessline.
Sebi had charged him with trading in the stock on the basis of unpublished price sensitive information relating to a proposed acquisition by the firm. Polaris chief arun jain barred from market for 2 years the hindu. Sebi bars polaris arun jain from securities mkt for 2. After a decade 3 even after starting polaris of astute leadership with nucleus software, jain parted ways and moved to chennai to follow his instincts to start polaris software labs later renamed as polaris financial technology ltd. Sebi tuesday barred polaris software labss cmd arun jain from securities market for a period of two years for alleged insider trading in the companys shares. Polaris software enters cloud computing pti mumbai updated on march 12, 2018 published on april 27, 2011 mr arun jain, chairman and ceo, polaris software lab ltd. Arun jain, 40, is a first generation entrepreneur, who promoted nucleus software group with a few friends in 1986. It was in november 1997 that polaris first went in for a private placement when it placed 18 per cent of its stake with citicorp. Market regulator sebi on thursday slapped a fine of rs,1. About us intellect design, about intellect, banking products. Polaris software, which was started with an initial capital of rs 10,000, became jain s exclusive preserve.
After selling polaris to virtusa, arun jain will focus on intellect design, play the role of mentor and angel investor, and pursue his interests in. Arun jain is the founder of polaris group and chairman and managing director of intellect design arena limited. Sebi bars polaris softwares arun jain indian express. View arun jains profile on linkedin, the worlds largest professional community. Chennai, tamil nadu, india industries information services, information technology, software headquarters regions asiapacific apac founded date 1993 founders arun jain operating status active number of employees. Arun jain, executive chairman of polaris financial technology, says he enjoys being the david that takes on many a goliath, including ibm, in the financial technology solutions business. The article published on smart ceo dives deep into the mind of arun jain, his story and vision for polaris. Arun jain founder and chairman at polaris consulting and.
This was also when he started to look beyond his relationship with citibank. See the complete profile on linkedin and discover aruns connections and jobs at similar companies. Mr arun jain got into the software business in 1986 when he set up nucleus software. Mar 12, 2018 polaris software enters cloud computing pti mumbai updated on march 12, 2018 published on april 27, 2011 mr arun jain, chairman and ceo, polaris software lab ltd. Join facebook to connect with arun jain and others you may know. Arun jain and a few other shareholders of polaris consulting and services ltd pcsl on thursday entered into a share purchase agreement by which they will sell the 53 percent stake they hold in. Regulator sebi has banned polaris cmd arun jain from transacting in the stock market for a period of 2 years on charges of insider trading a case involving 15,080 shares of polaris relating to the failed deal polaris pursued 12 years back with a new jersey based it companydata inc. But the journey to get there was one of deep thought backed by thorough execution.
Intellect design arena limited is a global leader in financial technology for banking, insurance and other financial services. Nov 27, 2015 arun jain was the chairman and managing director of erstwhile polaris software lab. It firm polaris ft today said it is focused on accelerating growth across its products and. He is the chairman and managing director of intellect design arena limited, an it software products company in the banking, financial services and insurance space which is listed in the national stock exchange as intellect. Sebi has prohibited arun jain, chairman and managing director, polaris software lab, from transacting in securities for two years. In october 2012, market regulator sebi barred polaris software labss cmd arun jain from securities market for a period of two years for insider trading in the companys shares. Intellect is a specialist in applying true digital technologies, offering the worlds first full spectrum of banking and insurance technology products, across consumer banking, central banking, transaction banking, risk, treasury and markets and insurance.
Polaris software lab is a computer software company that provides solutions for the banking, financial, and insurance sectors. Sebi had charged him with trading in the stock on the basis of. By 2000, he wanted the company to reach a turnover of rs 100 crore and expand its ambit to include software projects for banking, financial services and insurance. Tech majors race to acquire controlling stake in polaris. View arun jains professional profile on relationship science, the database of decision makers. After 12 days of detention in indonesia, polaris software labs ltd polaris chief executive officer arun jain and senior vicepresident rajiv malhotra are expected to return to india on tuesday. Dec 26, 20 sat sets aside sebi order barring polaris arun jain from market sat has set aside a sebi order that had barred polaris software labs cmd arun jain from securities market for two years on charges of insider trading. Ceo of indias polaris software is arrested by indonesian. The article published on smart ceo dives deep into the mind of arun jain, his story and vision for. Banking, finance and insurance technology major, polaris software lab limited mumbai. Arun jain intellect chairman, retail banking systems. The investigation revealed that the noticee, being the chairman and managing director of the company, had dealt in the shares of the company on. The polaris orbitech mergerfinancecase studycase studies.
Jan 22, 2018 arun jain, promoter of chennaibased polaris software lab now polaris software consulting, has clarified that the ex parte interim order by sebi on november 24 against him was a matter pertaining t. The indian government has put strong diplomatic pressure on indonesia to release the head of a leading indian software company. Hon peter hain mp, secretary of state for northern ireland, and mr. The securities and exchange board of india has banned polaris software lab ltds promoter arun jain from dealing in the securities market for two years accusing him of violating insider trading norms. Sebi fines polaris promoter arun jain in insider trading case. Polaris software, which was started with an initial capital of rs 10,000, became jains exclusive preserve. During this journey, we crossed 4 stages of growth starting from making company a viable global entity and getting it publicly listed in 1999. Securities appellate tribunal has set aside a sebi order that had barred polaris software labs cmd arun jain from the securities market for two years on charges of insider trading. Founder july 25, 1993 to present chennai, tamil nadu.
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