Former SBI official Chalasani is appointed to the Srei Group advisory council by RBI.

On account of governance issues, the RBI superseded the heavily indebted Srei Infrastructure Finance and Srei Equipment Finance in October last year.

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Former SBI official Chalasani is appointed to the Srei Group advisory council by RBI.

Venkat Nageswar Chalasani, a former State Bank of India employee, was appointed by the Reserve Bank of India (RBI) on Thursday to the advisory committees of Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL).

In a press release dated October 11, 2021, the Reserve Bank of India announced the creation of an advisory committee under 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 guide the Administrator regarding financial service providers’ activities during the corporate insolvency resolution process.

Following R Subramaniakumar’s resignation from the advisory committee with effect from June 22, 2022, it has been agreed to immediately add Venkat Nageswar Chalasani as a member, said RBI.

The Advisory Committee will now be comprised of T T Srinivasaraghavan, former Managing Director of Sundaram Finance Limited, Farokh N Subedar, former Chief Operating Officer and Company Secretary of Tata Sons Limited, and Venkat Nageswar Chalasani, former Deputy Managing Director of the State Bank of India.

According to the RBI, the Advisory Committee would guide the Administrator on how the SIFL and SEFL are operating during the corporate insolvency resolution process.

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