Founded in 1985, EBIXCASH World Money India Ltd, a subsidiary of EbixCash World Money Limited, is a leading Foreign Exchange Services Company based out of Mumbai, India. Formerly known as Weizmann Forex Limited, the Company was acquired by EbixCash World Money Limited in 2019 and was renamed to EBIXCASH World Money India Ltd in 1st January, 2020. We offer innovative, customized, and integrated financial solutions, relating to Foreign Exchange Services, Outward & Inward Remittances, Prepaid Cards, Gift Cards, and Travel Insurance needs of our corporate and retail clients.
With over 70+ branches spread across cities, EBIXCASH World Money India has grown into a ‘Preferred Foreign Exchange Partner’ along this 34-year-old journey. With a vision to grow and a leadership team that committedly achieves this vision, the company has expanded in these 34 years by leaps and bounds reaching new milestones and setting new benchmarks. The ability to identify, learn, and adopt emerging technologies without losing focus on the fundamentals and core strengths, is our brand advantage.
In Pursuit of EXCELLENCE in our chosen sphere of activity.
To scale greater heights by providing consistent customer satisfaction in the field of money changing. We are committed to fulfilling every Foreign Exchange related need of our customers, so that they can:
THE IDEAL SUCCESS MANTRA OF ALL TIMELY
Upgrade & expand our physical outlets, channel partners and business segments
Innovate, upgrade and introduce new solutions that give us a distinct identity
Achieve and maintain an edge with regards to our research, innovation and progress
We welcome you to Ebix Group. The acquisition of Weizmann Forex Limited is not just another feather in the company's cap, but is also an indication of Ebix's commitment to expand its India story. We would like to share that for FY19, the total income of the company increased by 19%, YoYto Rs. 9,189 crore, and the net revenue was up 3% YoY to Rs. 221 crore.
Ebix Inc., (NASDAQ: EBIX), with over 50 offices across 6 continents, is an international supplier of on-demand software and ecommerce services to the insurance, financial, healthcare and e-learning industries. Ebix's main focus is to develop and deploy a wide variety of insurance and reinsurance exchanges on an on-demand basis, as also, providing Software-as-a-Service ("SaaS") enterprise solutions. With a 'Phygital' strategy combining 320,000 physical distribution outlets and an Omni-channel online digital platform, the Company's.
The acquisition of Weizmann Forex not only provides economies of scale but also broadens our target audience by tapping into the existing market. Today, the EBIXCASH financial exchange portfolio leads in domestic & international money remittance, foreign exchange (forex), travel, pre-paid & gift cards, utility payments, lending, wealth management and more. EBIXCASH's airport foreign exchange business operates from 90 counters across 30 international airports and from over 145+ branches, conducting a total of $4.8 billion in gross transaction value per year and its inward remittance business of approx. $5 billion gross annual remittance confirm its undisputed leadership position in India.
EBIXCASH, through its travel portfolio of Via and Mercury, is also one of Southeast Asia's leading travel exchanges with over 2,200 employees, 212,450+ agent network 25 branches and over 9,800 corporate clients; processing an estimated $2.5 billion in gross merchandise value per year. EBIXCASH's technology services division encompasses leadership in lending technology, asset & wealth management technology, travel technology besides having grown its international expanse to Europe, Middle East, Africa and ASEAN countries.
With this current acquisition, the company's vision is to scale up, explore new opportunities and new markets. The company believes in building strong partnership networks, the strengths of which enable delivery of seamless product experiences, pioneering of innovative products and services, all this and more, ahead of the competition. The company endeavors to build the immemorial edifice of the Ebix group by leaps and bounds, to newer heights, breaking its own records and setting new benchmarks. To the members of Weizmann family, we value your beliefs and the expertise that you bring along. We look forward to leveraging the strengths of the individual entities and ensure another year of great work by offering not just a diverse bouquet but also an enhanced portfolio of travel, foreign exchange and financial solutions to our clients. The company is poised to sustain its leadership along with profitability and positive influence for all stakeholders.
I take this opportunity to appreciate and acknowledge the members of the Board and the Management for their invaluable insights, and the dedicated employees in their contribution towards creating industry benchmarks and building the brand to where it stands today. I would like to thank all the stakeholders for their continued support in achieving this feat for the company, which I am confident of, is only going to gain pace in the years to come.
With best wishes,
LAUREN PATON
NON-EXECUTIVE INDEPENDENT DIRECTOR
Ms. Lauren Paton holds LLB (hons) from the University of Edinburgh. She has work experience of approximately 10 years in Corporate Laws of United Kingdom & Dubai.
SATYA BUSHAN KOTRU
CHAIRMAN, NON-EXECUTIVE NON-INDEPENDENT DIRECTOR
Satya Bushan Kotru holds Bachelor’s Degree in Commerce from the University of Lucknow. He has work experience of approximately 24 years and has also been working with Ebix Software India Private Limited since April 24, 2002, where presently he is the Assistant Corporate Vice President (Administration and General Management).
T C GURUPRASAD
WHOLE-TIME DIRECTOR
T. C. Guruprasad holds Masters’ Degree in Business Administration (E-Commerce and E-Management Marketing) and Master’s Degree in Business Administration (Data Warehousing and Data Mining Marketing Management) from National Institute of Business Management. He joined Centrum Direct Limited (now known as EbixCash World Money Limited) on June 15, 1999 and has been associated with the forex business for a period of approximately 20 years.
VIKAS VERMA
NON-EXECUTIVE NON-INDEPENDENT DIRECTOR
Vikas Verma holds Post Graduate Diploma in Business Management from the Institute of Management Technology, Ghaziabad and a qualified Chartered Financial Analyst. He has earlier worked with World Bank, New Delhi and has been working with Ebix Software India Private Limited since June 3, 2002, where presently he is the assistant corporate vice president (finance and legal (international)). He has approximately 17 years of experience in financial planning and analysis, legal, tax and regulatory compliances, mergers and acquisitions and general accounting.
JYOTI KACHROO
NON-EXECUTIVE INDEPENDENT DIRECTOR
Jyoti Kachroo is Engineer. He is having a vast 40 year’s experience in various industrial and corporate engineering of Civil Infrastructures and Interiors of corporate and Industrial setup. He has worked with many Companies involved in Manufacturing, Trading, Designing and Consultancy of Various products and Civil Infrastructure, Interior Designing, execution of Industrial and Commercial projects of various corporate and Industries. He is Member of various Chartiable Institutions and NGOs.
DEEPAK BHAN
NON-EXECUTIVE INDEPENDENT DIRECTOR
Deepak Bhan is Airforce Wing Commander. He is a dynamic professional with 31 years experience in the areas of Operations Management, Delivery Management, Quality & Team Management. Out of the total work experience worked for 21 years in the Indian Air Force (opted for pre-mature retirement as Wing Commander) as an aviation engineer. He was associated with LIMCO Telecommunications as Technical consultant spearheading the delivery and deployment of military radar systems for Indian Air Force and Indian Navy. He is Currently working with AIR INDIA Ltd New Delhi as Flight Safety Consultant for their aircraft operations and maintenance.
SANJAY MALHOTRA
NON-EXECUTIVE INDEPENDENT DIRECTOR
Sanjay Malhotra is B.E in Industrial Engineering. He has total work experience of about 28 years in the Field of Industrial Automation. He has experience in Systems Design and computer programming, and execution of turnkey projects (both in India and abroad).
T C GURUPRASAD
MANAGING DIRECTOR
T. C. Guruprasad holds Masters’ Degree in Business Administration (E-Commerce and E-Management Marketing) and Master’s Degree in Business Administration (Data Warehousing and Data Mining Marketing Management) from National Institute of Business Management. He joined Centrum Direct Limited (now known as EbixCash World Money Limited) on June 15, 1999 and has been associated with the forex business for a period of approximately 20 years.
SHANTHARAM SHETTY
HEAD, INWARD MONEY TRANSFER
Shantharam Shetty is a Bachelor of Science, in Botany and Zoology. Before teaming up with the Company, he had a 34 year successful stint in Vijaya Bank, from which he retired as Deputy General Manager. He joined the Company as Assistant Vice-President in 2005 and has risen to the position of Executive Director. He is a keen sportsman and has participated and led various sports as captain including cricket, kabaddi and badminton.
Hariprasad M.P
HEAD, NATIONAL SALES
Hariprasad holds a Master’s Degree in Management with specialization in Finance & Marketing from T. A. Pai Management Institute (TAPMI), Manipal and also a Post Graduate Diploma in Banking & Financial Services from TAPMI . He has been associated with EbixCash World Money since 2008 and his past stints include ICICI Bank, Tata Finance American Express, Wall Street Finance Ltd. and ICDS Ltd.
LAUREN PATON
NON-EXECUTIVE INDEPENDENT DIRECTOR
Ms. Lauren Paton holds LLB (hons) from the University of Edinburgh. She has work experience of approximately 10 years in Corporate Laws of United Kingdom & Dubai.
SATYA BUSHAN KOTRU
CHAIRMAN, NON-EXECUTIVE NON-INDEPENDENT DIRECTOR
Satya Bushan Kotru holds Bachelor’s Degree in Commerce from the University of Lucknow. He has work experience of approximately 24 years and has also been working with Ebix Software India Private Limited since April 24, 2002, where presently he is the Assistant Corporate Vice President (Administration and General Management).
T C GURUPRASAD
WHOLE-TIME DIRECTOR
T. C. Guruprasad holds Masters’ Degree in Business Administration (E-Commerce and E-Management Marketing) and Master’s Degree in Business Administration (Data Warehousing and Data Mining Marketing Management) from National Institute of Business Management. He joined Centrum Direct Limited (now known as EbixCash World Money Limited) on June 15, 1999 and has been associated with the forex business for a period of approximately 20 years.
VIKAS VERMA
NON-EXECUTIVE NON-INDEPENDENT DIRECTOR
Vikas Verma holds Post Graduate Diploma in Business Management from the Institute of Management Technology, Ghaziabad and a qualified Chartered Financial Analyst. He has earlier worked with World Bank, New Delhi and has been working with Ebix Software India Private Limited since June 3, 2002, where presently he is the assistant corporate vice president (finance and legal (international)). He has approximately 17 years of experience in financial planning and analysis, legal, tax and regulatory compliances, mergers and acquisitions and general accounting.
JYOTI KACHROO
NON-EXECUTIVE INDEPENDENT DIRECTOR
Jyoti Kachroo is Engineer. He is having a vast 40 year’s experience in various industrial and corporate engineering of Civil Infrastructures and Interiors of corporate and Industrial setup. He has worked with many Companies involved in Manufacturing, Trading, Designing and Consultancy of Various products and Civil Infrastructure, Interior Designing, execution of Industrial and Commercial projects of various corporate and Industries. He is Member of various Chartiable Institutions and NGOs.
DEEPAK BHAN
NON-EXECUTIVE INDEPENDENT DIRECTOR
Deepak Bhan is Airforce Wing Commander. He is a dynamic professional with 31 years experience in the areas of Operations Management, Delivery Management, Quality & Team Management. Out of the total work experience worked for 21 years in the Indian Air Force (opted for pre-mature retirement as Wing Commander) as an aviation engineer. He was associated with LIMCO Telecommunications as Technical consultant spearheading the delivery and deployment of military radar systems for Indian Air Force and Indian Navy. He is Currently working with AIR INDIA Ltd New Delhi as Flight Safety Consultant for their aircraft operations and maintenance.
SANJAY MALHOTRA
NON-EXECUTIVE INDEPENDENT DIRECTOR
Sanjay Malhotra is B.E in Industrial Engineering. He has total work experience of about 28 years in the Field of Industrial Automation. He has experience in Systems Design and computer programming, and execution of turnkey projects (both in India and abroad).
T C GURUPRASAD
MANAGING DIRECTOR
T. C. Guruprasad holds Masters’ Degree in Business Administration (E-Commerce and E-Management Marketing) and Master’s Degree in Business Administration (Data Warehousing and Data Mining Marketing Management) from National Institute of Business Management. He joined Centrum Direct Limited (now known as EbixCash World Money Limited) on June 15, 1999 and has been associated with the forex business for a period of approximately 20 years.
SHANTHARAM SHETTY
HEAD, INWARD MONEY TRANSFER
Shantharam Shetty is a Bachelor of Science, in Botany and Zoology. Before teaming up with the Company, he had a 34 year successful stint in Vijaya Bank, from which he retired as Deputy General Manager. He joined the Company as Assistant Vice-President in 2005 and has risen to the position of Executive Director. He is a keen sportsman and has participated and led various sports as captain including cricket, kabaddi and badminton.
Hariprasad M.P
HEAD, NATIONAL SALES
Hariprasad holds a Master’s Degree in Management with specialization in Finance & Marketing from T. A. Pai Management Institute (TAPMI), Manipal and also a Post Graduate Diploma in Banking & Financial Services from TAPMI . He has been associated with EbixCash World Money since 2008 and his past stints include ICICI Bank, Tata Finance American Express, Wall Street Finance Ltd. and ICDS Ltd.
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