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Sameer Gehlaut steps down as Indiabulls Housing chairman

Saransh Pandey

Intern
  • August 13, 2020
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    • Subhash Sheoratan Mundra, former RBI Deputy Governor has been appointed as a non-executive chairman of Indiabulls
    • Sameer Gehlaut will now take up the position of CEO of Indiabulls Ventures Limited

In an exchange filing on August 12, Indiabulls Housing Finance informed that Sameer Gehlaut who was the executive chairman of the company has stepped down from his post. He has been assigned the post of non-executive, non-independent director of the company. Gehlaut is now the Chief Executive Officer of Indiabulls Ventures Ltd. 

Indiabulls Housing Finance informed the exchanges after its board meeting that Gehlaut will take the position of Chief Executive Officer for Indiabulls Ventures Ltd and would now shift his focus on the Chief Executive's role for growing its consumer business in finance and healthcare on App Dhani. 

After stepping down, Subhash Sheoratan Mundra's name was suggested by Gehlaut for the post-Non-executive Chairman of the company, which was approved by the board of directors. Mundra is a former Deputy Governor of the Reserve Bank of India and is currently working as Independent Director of Indiabulls Housing board. The company in its statement said that “The appointment of Mundra as Non-Executive Chairman will ensure high standards of professionalism and governance of the Company”. 

During his four-decade-long career in the banking industry, Mundra has held high-level positions, including Chairman and Managing Director of Bank of Baroda, Executive Director of Union Bank of India, CEO of Bank of Baroda (European Operations), amongst others. He was Deputy Governor of the Reserve Bank of India till July 2017.

Mundra has experience in banking, supervision, management, and administrative matters. During his career, he has worked in various sectors like core central banking, commercial banking, banking regulation and supervision, financial markets, treasury management, planning, economic research, investment banking. Mundra is also the part of the Board of Bombay Stock Exchange Limited, DSP Investment Managers, Havells India, PTC India, Airtel Payments Bank, Acuite Ratings and Research, and Ayana Renewal Power. 

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