SREI: RBI Appoints V Ramachandra as Member of Advisory Committee
Moneylife Digital Team 01 February 2023
Reserve Bank of India (RBI) has appointed V Ramachandra as member of the advisory committee of Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL). He will be advising the administrator in the operations of the financial service providers during the corporate insolvency resolution process. Mr Ramachandra was appointed in the vacancy due to the resignation of Farokh N Subedar. Mr Ramachandra is the former chief general manager of Canara Bank.
 
In the release, RBI says, “Consequent upon the resignation of Farokh N Subedar from the Advisory Committee with effect from 31 January 2023, it has been decided to appoint V Ramachandra as a member of the advisory committee with immediate effect. The advisory committee will advise the administrator in the operations of the SIFL and SEFL during the corporate insolvency resolution process.”
 
Earlier in October 2021, RBI appointed a three-member advisory committee after submitting the petitions for insolvency resolution process by the Kolkata bench of the National Company Law Tribunal (NCLT) in respect of SIFL and SEFL. Rajaneesh Sharma, ex-chief general manager of Bank of Baroda, was appointed as the administrator superseding the board. 
 
The advisory committee of SREI now comprises of Venkat Nageshwar Chalasani, former deputy managing director of State Bank of India, TT Srinivasaraghavan, former managing director of Sundaram Finance Ltd, and Mr Ramachandra. 
 
Mr Chalasani was appointed to the committee after R Subramaniakumar, former MD & CEO of Indian Overseas Bank, resigned on 23 June 2022.
 
Reserve Bank of India (RBI) has appointed V Ramachandra as member of the advisory committee of Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL). He will be advising the administrator in the operations of the financial service providers during the corporate insolvency resolution process. Mr Ramachandra was appointed in the vacancy due to the resignation of Farokh N Subedar. Mr Ramachandra is the former chief general manager of Canara Bank.
 
In the release, RBI says, “Consequent upon the resignation of Farokh N Subedar from the Advisory Committee with effect from 31 January 2023, it has been decided to appoint V Ramachandra as a member of the advisory committee with immediate effect. The advisory committee will advise the administrator in the operations of the SIFL and SEFL during the corporate insolvency resolution process.”
 
Earlier in October 2021, RBI appointed a three-member advisory committee after submitting the petitions for insolvency resolution process by the Kolkata bench of the National Company Law Tribunal (NCLT) in respect of SIFL and SEFL. Rajaneesh Sharma, ex-chief general manager of Bank of Baroda, was appointed as the administrator superseding the board. 
 
The advisory committee of SREI now comprises of Venkat Nageshwar Chalasani, former deputy managing director of State Bank of India, TT Srinivasaraghavan, former managing director of Sundaram Finance Ltd, and Mr Ramachandra. 
 
Mr Chalasani was appointed to the committee after R Subramaniakumar, former MD & CEO of Indian Overseas Bank, resigned on 23 June 2022.

 

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