Hi Himang,

Although i don’t have experience but i do research and from that I know the following:
There is usually a chairperson who is responsible for coordinating the preparations for the design review and managing the review meeting.
A design team (usually engineers) whose responsibility is to provide details regarding the design and its process and receiving feedback from the subject-matter expert on any issues to resolve it. The Subject-matter experts can be regulatory experts, manufacturing experts, quality, marketing, etc. and majority of the time not directly involved in the development of the design.
The review process usually consists of introduction, design review purpose and process, some background, detailed product discussion including discussion of the project, and wrap-up. The design teams/engineers usually prepares the Design Review Meeting Minutes at the end to include all the feedback: decisions that were made, issues that require resolution, conclusion made from the teams to incorporate any changes that may require.