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Reserve Bank of India has appointed Venkat Nageswar Chalasani, former Deputy Managing Director, State Bank of India, as a member of the Advisory Committee of Srei Infrastructure Finance Limited and Srei Equipment Finance Limited (SEFL).
RBI had constituted an Advisory panel under the Insolvency and Bankruptcy Rules, 2019, to advise the Administrator of Srei in the operations of the financial service providers during the corporate insolvency resolution process.
Chalasani has been appointed after R. Subramaniakumar retired from the Advisory Committee with effect from June 22, 2022,. Other members of the Advisory panel are T.T. Srinivasaraghavan, former Managing Director, Sundaram Finance Limited, and Farokh N Subedar, former Chief Operating Officer and Company Secretary, Tata Sons Limited.
In October last year, the RBI had superseded the debt-laden Srei Infrastructure Finance (SIFL) and Srei Equipment Finance (SEFL), on governance concerns and defaults by the companies in meeting their various payment obligations.
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