Devita Saraf

Devita Saraf
Residence Mumbai
Nationality India
Alma mater University of Southern California
Occupation Founder, CEO and Design Head of Vu Televisions
Parent(s) Rajkumar Saraf
Awards IT People's IT Woman Leadership Award[1]
Website www.devitasaraf.com

Devita Saraf is the Founder, CEO and Design Head of Vu Televisions. She is also a promoter of Zenith Computers (India) Zenith Infotech Limited along with her family members Devita was ranked as the youngest businesswoman on India Today’s list of 25 Most Powerful Women in India[2] She was also a columnist for The Wall Street Journal.[3]

Early life

Devita Saraf was born in Mumbai, India, the daughter of Rajkumar Saraf, Chairman of Zenith Computers. Saraf recalls learning business skills from her grandfather at a young age.[4]

She has been a National Co-Chair and Executive Committee Member in the Federation of Indian Chambers of Commerce and Industry (FICCI) Young Leaders Forum.[5] She was also the founder and Chair of the Young Bombay Forum which was part of Bombay Chamber of Commerce and Industry.[6]

She attended Queen Mary School, Mumbai[7][8] She later attended the H.R. College of Commerce and Economics[9] and the University of Southern California, where she received a Bachelor of Business Administration.[5] She is also a member of Mensa.[7] Devita found place as top six nominees at the Satya Brahma founded Indian Affairs India Leadership Conclave 2016 ILC Power Brand Awards in the category of the Business Woman of the Year 2016.[10] Devita won the Business Woman of the Year 2016 at India Leadership Conclave 2016 Annual Edition.[11]

Career

Zenith

Saraf started her career at age 16.[12] when she was trained by her father at Zenith Computers and was named as the Director of Marketing when she was 21.[13][14] At Zenith, her first product a laptop computer designed for students.[15] In 2006 Saraf went from being the head of marketing to CEO.[16] The high court of Bombay (currently known as Mumbai) in case filed by The Bank of New York Mellon, London has convicted Ms Saraf, her father and all the promoters of zenith infotech limited of siphoning the company funds to personnel accounts and has directed BIFR (Board for Industrial & Financial Reconstruction Government of India) to take action as per its regulations.[17]

Securities and Exchange Board of India accused Zenith Infotech Limited and its six promoters of fraudelent removal of funds to personnel accounts without the notice to share holders, and as of March 25, 2013, SEBI prevented the promoters from accessing the securities market or trading in securities in any manner. The named six promoters included by SEBI are Saraf, her father Rajkumar Saraf, Akash Kumar Saraf, Vijayrani Saraf, VU Technologies Private limited and Zenith Technologies Private Limited.[18][19]

Vu Technologies

At age 24, she started Vu Technologies, which not only sells high-end gadgets.[12] While Zenith was mass technology focused, Vu sells innovative luxury items.[20][21] Saraf states that she wanted to "bring unique technology to the country."[22] Saraf is also the CEO of View TelePresence, which creates communications services for smaller business markets.[23] Vu came out with a 4K HD Iconium Series televisions in October 2015.[24]

In October 2014, the Bombay High Court sealed the premises of Andheri based office of Vu Technologies after it fraudulently showed 200 employees in their affidavit but only 32 were found on premises in a visit and in the muster roll for September–October 2014.[25]

References

  1. ↑ Business Standard (2009-01-10). "Minimum toting". Business-standard.com. Retrieved 2012-07-28.
  2. ↑ Sounak Mitra (20 February 2015). "Luxury TV maker VU to raise Rs 150cr in 2 yrs from PEs".
  3. ↑ Chaudhuri, Arcopol (31 October 2010). "Lights, Camera, Ideas at TEDx Mumbai". DNA, Sunday. Retrieved 12 January 2016 – via HighBeam Research. (subscription required (help)).
  4. ↑ Sra, Gunjeet (18 October 2010). "Power Steering: Born Into a Business Family Devita Saraf, Executive Director, Zenith Computers, Knows That the Only Way to Expand Her Legacy is to Forge Her Own Distinct Identity". India Today. Retrieved 12 January 2016 – via HighBeam Research. (subscription required (help)).
  5. 1 2 "Business of Luxury". Afternoondc.in. 2011-05-26. Retrieved 2012-07-28.
  6. ↑ "Leading ladies : Woman - India Today". Indiatoday.intoday.in. 2010-03-04. Retrieved 2012-07-28.
  7. 1 2 "Devita Saraf: Gadget woman from India". The Saturn Herald. 7 April 2015. Retrieved 12 January 2016.
  8. ↑ Chary, S.N. (2015). Business Czarinas. Bloomsbury India. ISBN 9789382951179.
  9. ↑
  10. ↑ "Indian Business Woman of the year 2016 – Indian Affairs". indianaffairs.tv. Retrieved 2016-05-03.
  11. ↑ "Devita Saraf wins Business Woman of the year 2016, VU TV voted as "Indian Affairs Most Promising & Valuable Luxury Smart TV" - Breakfast News TV". 2016-07-08. Retrieved 2016-07-18.
  12. 1 2 "She Likes to Hone Her Skills on the Cutting Edge". Hindustan Times. 17 January 2007. Retrieved 12 January 2016 – via HighBeam Research. (subscription required (help)).
  13. ↑ Exhibit (31 Posts). "Devita Saraf - CEO - Vu Technologies |Exhibit Magazine". Exhibitmag.com. Retrieved 2012-07-28.
  14. ↑ "On the radar : Simply Mumbai - India Today". Indiatoday.intoday.in. 2009-01-16. Retrieved 2012-07-28.
  15. ↑ Jahagirdar-Saxena, Shraddha (2006). "Fresh Stock: Devita Saraf". Verve Magazine. 14 (2). Retrieved 12 January 2016.
  16. ↑ "Devita Saraf moves from head of marketing to CEO". timesofindia-economictimes. Retrieved 2015-11-23.
  17. ↑ The Bank of New York Mellon, London vs Zenith Infotech Limited, Para 34 (THE HIGH COURT OF JUDICATURE AT BOMBAY 2015-07-30) (“" In view thereof, though I have expressed my view viz. that the Promoters of the Company are absolutely dishonest and have siphoned away the funds of the Company in the manner set out in detail hereinabove and are responsible for the state of affairs of the Company prevalent as of date, I leave it to the BIFR to decide whether the Reference filed by the Company should be registered and/or further entertained. "”). Text
  18. ↑ Sharma, Mahesh (2013-04-10). "How $33M was siphoned from India's Zenith Infotech". Mumbai. ZD net. Retrieved 2015-12-16.
  19. ↑ Modak, Samie (2013-03-25). "Sebi bars Zenith Infotech promoters". Mumbai. Business standard. Retrieved 2015-12-16.
  20. ↑ "'Keep company lean' says electronics CEO Devita Saraf". BBC News.
  21. ↑ Sen, Sunny; Sinha, Suveen (24 May 2015). "Off the Old Block, off Course ; Had Enough of Business Family Scions Who Follow in Their Parents' Footsteps? Business Today Finds Some Who Blaze Their Own Trails". Business Today. Retrieved 12 January 2016 – via HighBeam Research. (subscription required (help)).
  22. ↑ Fernandes, Amy; Sreekant, Rama (26 July 2014). "What I Have Learnt: Three Successful Women, Schauna Chauhan Saluja, CEO, Parle Agro Private Ltd.; Devita Saraf, CEO, Vu Technologies, Businesswomen of the Year Nominee; and Shinjini Kumar, Director, PwC India Share Their Insights". DNA: Daily News & Analysis. Retrieved 12 January 2016 – via HighBeam Research. (subscription required (help)).
  23. ↑ "Vu TelePresence Partners With eWomenNetwork To Spur Business Growth for Female Entrepreneurs". Manufacturing Close-Up. 19 February 2011. Retrieved 12 January 2016 – via HighBeam Research. (subscription required (help)).
  24. ↑ SiliconIndia. "VU Unveils the New Iconium Series with 4K UHD SMART LED". siliconindia.
  25. ↑ N Sundaresha Subramanian (15 October 2014). "Bombay HC raps Vu Technologies for false statements in affidavit". Business Standard. Retrieved 24 December 2015.

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