Sameer Gehlaut has stepped down as the executive chairman of Indiabulls Housing Finance, the company said on August 12 in an exchange filing. He has been re-designated as non-executive, non-independent director of the company. Gehlaut has taken up the position of Chief Executive Officer of Indiabulls Ventures Ltd, another listed company promoted by him.
Former RBI Deputy Governor Subhash Sheoratan Mundra has been appointed to the company's board as a non-executive chairman with immediate effect.
"Mr. Gehlaut proposed the name of Mr. Subhash Sheoratan Mundra (Ex-Deputy Governor of Reserve Bank of India and an Independent director on the Board of the Company) for the position of Non-Executive Chairman of the Company" Indiabulls Housing said in the filing.
Mundra has held various positions during his four-decade long career, including Chairman and Managing Director of Bank of Baroda, Executive Director of Union Bank of India, Chief Executive of Bank of Baroda (European Operations), amongst others. He was then appointed the deputy governor of RBI, an office he demitted in July 2017.
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