The Reserve Bank of India has retained the three-member advisory committee it had appointed last month to assist the administrator of the crippled mortgage lender Dewan Housing Finance Corporation Ltd., which is facing insolvency proceedings.
On Nov. 22, the central bank had constituted a three-member advisory committee, comprising IDFC First Bank non-executive chairman Rajiv Lall, ICICI Prudential Life managing director NS Kannan and the chief executive of the Association of Mutual Funds in India NS Venkatesh to assist the DHFL administrator R Subramaniakumar.
-
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
India Could Gain If AI Trade Unwinds, US Midterms May Hurt Markets: Ramesh Damani -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI -
"I Am A Material Man In A Material World': Quantum Advisors' Ajit Dayal On NDTV Profit Ignite
Subramaniakumar is a former head of Indian Overseas Bank and the RBI had recommended his name as the resolution professional, which was approved by National Company Law Tribunal on Tuesday.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
"Upon admission of the petition for insolvency resolution process by NCLT in respect of DHFL on Dec. 3, we have decided that the above mentioned three-member committee shall continue as the advisory committee," the central bank said in a statement.
The committee will advise the administrator in the operations of DHFL during the insolvency resolution process, it added.
Meanwhile, DHFL in a filing to exchanges said the administrator has appointed Sunil Kumar Bansal as the chief financial officer with immediate effect.
Bansal is a chartered accountant with experience in banking and insurance.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
