Ajayendra Pratap Jain: Leveraging Extensive Industry Knowledge To Anticipate, Identify & Remediate Compliance Infractions | CEOInsights Vendor
Ajayendra Pratap Jain: Leveraging Extensive Industry Knowledge To Anticipate, Identify & Remediate Compliance Infractions

Ajayendra Pratap Jain: Leveraging Extensive Industry Knowledge To Anticipate, Identify & Remediate Compliance Infractions

Ajayendra Pratap,  Chief Compliance Officer

Ajayendra Pratap

Chief Compliance Officer

Internal and external restrictions keep every company on its toes. To minimize the negative consequences of compliance risk, it is critical to keep an eye on what is and isn't authorized when running a corporation on a daily basis. That is why investing in a compliance officer may be useful. Combining the expertise of a human with that of automation technology can help you save time and money while also better safeguarding your company's long-term interests. Similarly, to help Prozone Intu Properties address all the legal and compliance requirements, Ajayendra Pratap Jain took up the role of Group Company Secretary & Chief Compliance Office at the company. Prozone Intu was formed with the objective of developing, constructing, and managing world-class regional shopping malls and accompanying mixed-use complexes across India.

Below is an excerpt of Ajayendra’s exclusive interaction with CEO Insights.

Tell us what motivated you to pursue a career in regulatory compliance:
I recognize that effective compliance and governance are essential for the success of an organization and society as a whole. There are more business opportunities as a result of this. Despite India's reputation as a legislative powerhouse with more laws on the books than any other country, compliance rates are among the lowest in the world. This discrepancy may be due to a lack of knowledge or education on the part of Indian citizens. Due to this, I came to know that compliance was an excellent chance for personal growth and the benefit of society as a whole.

Define Prozone Intu Properties as an organization and its current position in the industry.
Prozone Intu is the leading developer of retail real estate. It is regarded as one of India's few long-term participants in the retail
infrastructure and has a great track record in retail and residential projects. Apart from that, to ensure that its centers maintain good mix of well recognized and successful Indian and international brands, Prozone has great B2B store partnerships. The company has established a solid foothold in tier two cities like Aurangabad and Coimbatore owing to its two prominent malls. In addition to it, we are building residential properties in Nagpur and Coimbatore as well. The first SRA project in Mumbai has just been launched, and we're working on other projects as well to demonstrate our strong presence in market.

I recognize that effective compliance and governance are essential for the success of an organization and society as a whole

Prozone has the design and project management capability to deliver high value schemes successfully. Likewise, the company is capable enough to negotiate favorable terms in high-growth corridors because of its market understanding and deal making skills.

Could you tell us about the unique services that are provided by Prozone Intu that make it stand out from the rest in the market?
With a strong track record and performance in domestic real estate market, Prozone Intu Properties maintains loyal tenant relationships. In addition, when working on the projects, variables such as location, infrastructure, and important anchors are considered with an eye toward developing regionally dominant centers of excellence. Furthermore, we adhere to a unique blend of scale, customer experience, and value addition drivers.

High-growth areas with a strong regional presence are important considerations for our investment decisions because when you are in charge, you raise the bar for others to join the market. We have also made a considerable investment in the building of parking facilities to handle future expansion and maintain our regional leadership position. Our horizontal design ensures a better customer experience by distributing foot traffic evenly across the mall, resulting in equal average rental rates throughout. The building and
service design of Prozone has a balanced focus to enhance operational efficiency, and our acceptable minimum guarantee rentals secure income growth in the future years through revenue share possibilities.

What has been the success mantra that constantly helps you arrive at positive outcomes?
Right vision pulls you up, try your best with what all you have', has been my career success mantra for over two decades. In my work and personal life as well, it gives me a lift anytime I'm feeling down and discouraged.

Being the CCO, how do you plan to apply your exceptional understanding of this domain to Prozone Intu Properties and take it to the next level?
To be successful in any business, one must have a solid grasp of the industry and be able to accurately gauge consumer taste. It is essential that your assets are aligned with the needs and demands of the business in order to make your success easy. Maintaining an eye on government-focused areas and priorities enables you to choose what measures to take now or in the future. And I believe, what pushes you to be an industry leader is your ultimate objective of 'Society's Benefit'.

Based on your strong professional experience, what advice would you give to the upcoming leaders in the same industry?
To achieve long-term objectives and aspirations, one must be consistent and strong-willed. However, constant self-assessment, learning as a student, flexibility, improvement and execution; all contribute to your long-term success. When you feed your mind optimistic and uplifting thoughts, you will be able to stand up to any challenge.

Ajayendra Pratap Jain, Group CS & CCO Prozone Intu Properties
As a Gwalior University 1995 alumnus, Ajayendra is a professionally qualified Company Secretary and holds a bachelor's degree in commerce, a master's degree in business administration (finance), and a law degree. Alongside his previous vocations, he pursued an LLB and MBA.

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