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In board-level changes at Indiabulls Housing Finance Ltd (IBHFL), Sameer Gehlaut has relinquished the office of Executive Chairman with immediate effect.

SS Mundra, Independent Director, has been appointed as Non-Executive Chairman with immediate effect.

Gehlaut, who steered the housing finance company since its inception January 2000, has been re-designated as Non-Executive, Non-Independent Director of the company, as per IBHFL regulatory filing.

“Gehlaut informed the board that he has taken up the position of Chief Executive Officer of another listed company promoted by him – Indiabulls Ventures Ltd – and going forward, he would like to focus full time on the Chief Executive’s role for growing its consumer business in finance and healthcare on App Dhani,” the filing said.

IBHFL currently has two former RBI Deputy Governors – Mundra and KC Chakrabarty – on its board.

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