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. Subsequently, upon the resignation of Shri R. Subramaniakumar, Reserve Bank had appointed Shri Venkat Nageswar Chalasani as a member of the Advisory Committee, vide press release dated June 23, 2022.

Consequent upon the resignation of Shri Farokh N Subedar from the Advisory Committee with effect from January 31, 2023, it has been decided to appoint Shri V Ramachandra as a member of the Advisory Committee with immediate effect. The Advisory Committee will now comprise of following members:

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

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

3. Shri V Ramachandra, former Chief General Manager, Canara Bank

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: 2022-2023/1640