Prior to joining Tata Power, Ajay was the CFO & Chief (Legal, Regulatory and Commercial) of Tata Power Delhi Distribution Ltd. (TPDDL). In addition, he was handling enforcement assessment and vigilance functions of the Company. He was also the Chief Risk Officer of TPDDL. He joined TPDDL in October 2002 and rose to CFO position in 2007.

Mr. Kapoor is an honours graduate from the prestigious Shri Ram College of Commerce, Delhi University and a Fellow Member of the Institute of Chartered Accountants of India. He also holds MBA, LL.B. and LL.M. degrees. He has been a rank holder in the CA course, and topper of his batch of MBA for which he was awarded the Gold Medal. He is also an alumnus of Columbia Business School, New York where he pursued his Executive Program in Management. He has also attended Executive Education Programmes of Stern School of Business, New York University, Tuck School of Business, Columbia Business School, MIT Sloan School of Business and Tata Group Senior Leadership Program (Organised by TMTC and Harvard Business School).

He has a rich experience of 36+ years with companies likeITC Ltd., Tata Group, Birla Group and HCL Group. He has extensive experience in all areas of Finance, Legal, ERP implementations, and has handled matters relating to foreign collaborations, joint ventures in India and abroad, financial restructuring, policy advocacy, capital raising, and acquisitions besides handling legal advisory and has handled litigation matters at all levels/forums. During his tenure with TPDDL, he was awarded the National Award for Excellence in Cost Management twice in the category of "Service Sector with turnover of more than 1000 Crores" by the Institute of Cost & Works Accountants of India (ICWAI), He was also bestowed with CFO 100 Roll of Honour 4 times and with CFO League of Excellence. He was also recognised as Top 25 Thought Leaders by SAP India & Distinguished Alumni by IMI, Delhi. He has been a regular speaker on topics relating to Finance, Accounting, Tax and Law at various forums. In 2021, he was honoured by Society of Indian Law Firms (SILF) for his contribution as In-House Counsel in the field of Corporate Law. In 2023, he was recognised as best in-house lawyer in the field of Energy and Natural Resources by India Business Law Journal.