RBI appoints Shri Venkat Nageswar Chalasani as member of Advisory Committee of SIFL and SEFL

The Reserve Bank of India (RBI) has appointed Venkat Nageswar Chalasani as a member in the advisory committee of Srei Infrastructure Finance Ltd. (SIFL) and Srei Equipment Finance Ltd. (SEFL).

As per RBI’s Press Release:

In a press release dated October 11, 2021, the Reserve Bank of India announced the creation of an advisory committee in accordance with Rule 5(c) of the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019. The committee’s role is to provide guidance to the Administrator regarding the activities of financial service providers during the corporate insolvency resolution process.

As a result of Shri R. Subramaniakumar’s resignation from the Advisory Committee with effect from June 22, 2022, it has been agreed to immediately add Shri Venkat Nageswar Chalasani as a member. The following individuals will now comprise the advisory committee:

1. Shri Venkat Nageswar Chalasani, former Deputy Managing Director, State Bank of India

2. Shri T.T. Srinivasaraghavan, former Managing Director, Sundaram Finance Limited

3. Shri Farokh N Subedar, former Chief Operating Officer and Company Secretary, Tata Sons Limited

The Administrator will receive advice from the Advisory Committee regarding the management of the SIFL and SEFL during the settlement of corporate insolvency.

For Official Press Release Download PDF Given Below: