Reserve Bank of India, vide its press release dated October 11, 2021, had constituted 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, to advise the Administrator in the operations of the financial service providers during the corporate insolvency resolution process.

Consequent upon resignation of Shri R. Subramaniakumar from the Advisory Committee with effect from June 22, 2022, it has been decided to appoint Shri Venkat Nageswar Chalasani as a member of the Advisory Committee with immediate effect. The Advisory Committee will now comprise of following members:

1. Shri Venkat Nageswar Chalasani, former Deputy Managing Director, State Bank of India

2. Shri T.T. Srinivasaraghavan, former Managing Director, Sundaram Finance Limited

3. Shri Farokh N Subedar, former Chief Operating Officer and Company Secretary, Tata Sons Limited

The Advisory Committee shall advise the Administrator in the operations of the SIFL and SEFL during the corporate insolvency resolution process.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2022-2023/412