Our Team

Luv Shah

Luv Shah

Chief Executive Officer

The best way to find yourself is to lose yourself in the service of others.

Luv Shah is the founder and CEO of Polygel Industries Pvt. Ltd. and Heads the Strategy, Product Development and Marketing Functions in the organisation.

Under his leadership, Polygel has grown from strength to strength in India and Global markets, since inception in 1997.

With over 22 years' experience in Operations, Sales, Marketing and Product Development functions, he also have experience in High–Tech (Blue Broadband Technologies) and Packaging (Western India Packagings).

An ardent believer in spirituality and ancient Indian texts, Mr. Shah is passionate about causes that have a social impact such as creating employment, livelihoods, entrepreneurship, cleanliness and, skill –development and works closely with NGO’s and Business Leaders in Mumbai, where he resides.

Mr. Shah is a graduate of the 'Sydenham College of Commerce; in Mumbai and an MBA from the prestigious 'SP Jain Institute of Management and Research', Mumbai. His other pursuits include cycling, travelling & spending time with his family.
Anil Phatanagare

Anil Phatanagare

Chief Operating Officer

The great task, rarely achieved is to blend creative intensity with relentless discipline so as it amplify the creativity rather than destroy it. When you marry operating excellence with innovation, you multiply the value of your creativity.
- Jim Collins & Morten T. Hanson

Mr. Phatanagare has been a Professional Director on the Board of Polygel, leading the Operations, Product Development and Projects Team for over 15 years.

He has held a number of managerial positions in leading Indian pharmaceutical and chemical manufacturing companies such as FDC Ltd., Savita Chemicals Ltd., and Ventron Polymers Ltd. prior to Polygel.

He has over 20 years of experience in the pharmaceuticals, specialty chemicals, and manufacturing industries. Mr. Phatanagare holds a B.Sc. in Chemistry from Pune University and has attended a number of short courses on Operations Management and Innovation across the world.

Anil is passionate about Innovation, New Technologies, Operational & cost efficiencies & Leadership.
Anil is an avid traveller and reader and loves to spend time with Family and his 2 daughters in Pune where he resides.
N. K. Shah

N. K. Shah

Chief Commercial Officer

It’s pretty hard to be efficient without being obnoxious.
- Elbert Hubbard

Mr. N.K. Shah has over 45 years' experience as a Finance Professional Chartered Accountant and in managing Supply Chain, Contracts and Commercial operations in Polygel.

He is also a Law and Science Graduate. He has served various organisations like Bata India, Birla Corporation and Singhi & Company, before he decided to become a practicing Chartered Accountant and then an entrepreneur since 30 years.

Mr. Shah has devoted most of his career to the Plywood and Panel Boards industry and is well – networked in the industry in India.
He has been active Rotarian since last 40 years, a Paul Harris Fellow and dedicated in entering the Hall of Fame very soon for his contribution to the Rotary Foundation.

He is settling in Mumbai and travels between Mumbai, Bangalore and Adelaide, Australia – where his 2 sons and one daughter reside.
Prem Mehta

Prem Mehta

Independent Director

The Man who stops Advertising to save money is like the Man who stops the clock to save time.
- Thomas Jefferson

Mr. Prem Mehta is a Thought Leader, Management Professional, and a Practicing Manager even today.

Mr. Mehta conceived, established and runs the Northpoint Centre of Learning since 2002, a Management Development facility, based on a unique training model to build actionable knowledge in partnership with the Advertising, Communications, Marketing, Market Research, Media and Public Relations Industry.

Mr. Mehta was also the longest serving Chairman of Lintas India - for 15 years, the largest Advertising Agency by Revenue during his tenure.

Mr. Mehta served Unilever India, the one of the largest FMCG Company in India for 4 years, prior to joining Lintas. He serves on the Board of various prestigious Organisations like Walt Disney India, UTV Communications etc.

Mr. Mehta's passion is to train and nurture young future Leader's and Managers by providing them mentorship and practical knowledge. He also enjoys travelling, reading and spending time with Family in the US.
Ranjeev Bhatia

Ranjeev Bhatia

Investor Director

I am more interested in People than I am in how businesses work.
- Peter Drucker

Having moved countries 5 times in the last 20 years, Ranjeev has worked in different geographies and cultures over the course of his career. Having completed his schooling in Bombay, Ranjeev graduated from St Stephens’ College in Delhi prior to moving to the UK. At that point, he decided to switch specialties from History to Economics despite having been placed 2nd in Delhi University in History Honours. He pursued a degree in Economics from the London School of Economics and completed a Masters in Economics from Cambridge University.

Ranjeev then began a career with KPMG in London and completed his ACA exams in 2 years deciding to move from Audit to Corporate Finance in that period. His early career was spent advising middle market companies in the consumer space on fundraising and mergers and acquisitions. He worked with leading brands in the UK and Europe on the buy side as well as the sell side as KPMG built its UK M&A business in the Mid-1990's. He was then given the opportunity to be part of the newly set up broker-dealer business in the US and decided to relocate to New York to help build this business for KPMG. The group grew from the initial 20 persons to over 100 professionals across the US all focused on middle market M&A. Over this period, Ranjeev advised several family businesses on the sell side and developed an expertise in the building materials space. He also worked with a number of US middle market PE funds helping them divest or grow their portfolio.

In 2005, he decided to move to emerging markets and pursue an opportunity with Arcapita, which at that time was a leading private equity fund focused on the US and Europe but headquartered out of Bahrain. Having relocated to Bahrain, Ranjeev was instrumental in building a team that was focused on PE transactions in the Middle East and India and he eventually headed up this team for 3 years. He also completed the first successful PE exit for Arcapita in Asia with the sale of Medplus, a pharmacy chain in India. The IRR achieved for this investment over a period of 3 years was in excess of 37%.

Having built the India business, Ranjeev relocated to India and currently manages the portfolio for Arcapita in India. He is also involved with a number of investments in the consumer and technology space both in India and the US. He is on the boards of several companies in India and the US and continues to work as an advisor and investor director with some of these businesses.

He is currently involved in raising capital for growing companies in India and the US as well as for larger projects with Arcapita globally. His network of investors spans across the Middle East, US, UK, Singapore and India. He continues to personally invest in a number of startups across geographies through his extensive network.
Vijay Raichand

Vijay Raichand


The Supreme Art of War is to subdue the enemy without fighting.
- Sun Tzu

Capt. Vijay Raichand is the Director of Polygel India.

Capt. Raichand was awarded the prestigious Visesh Seva Medal by the President of India for refurbishing and retrofitting the Largest Aircraft Carrier in India, INS Vikrant and served as the Captain of INS Vikrant and the Indian Navy for many years.

Capt. Raichand is also on the Board of Various Indian Companies such as Claridges Group (Real Estate and Hospitality Industry), Dynatron India (Defence Equipment) and Baroda Rayon Corporation (Synthetic Textiles).

He is an avid and Professional Golfer and enjoys spending time with Family and his 2 sons and one grandson in Mumbai and London.

Capt. Raichand has many friends in Industry, Government, Royalty and Bollywood and is a great Host and Entertainer. He is a Marine Engineer and a Management Graduate by qualification.
Jonathan Squires

Jonathan Squires

Executive Chairman

Jonathan is a Big Believer of ” Vision without Execution is Just Hallucination “ and believes in getting things done by the right fit of people .

Mr. Squires has an extensive 35+ years experience in all areas of investment banking, equity and debt capital markets ,and Main Board level corporate & strategic advisory. Has appeared as an expert witness in valuation and equity claims.

He has closed over $1.8bn in M&A and funding transactions, principally cross-border between Europe and US, and MENA and SE Asia.

Most recently, he was the head of private equity direct investment in emerging growth SE Asian companies for a private bank, and latterly a sovereign wealth fund in the Middle East, with board level representation at the investee companies.