BOARD OF DIRECTORS
Mr. Anil Bhandari, promoter / director has an experience of 23 years including 13 years in Banking with significant exposure to Legal/ recovery including restructuring / OTS / BIFR and has handled large number of cases for recovery through DRT/SARFAESI and liquidation proceedings. Mr. Bhandari, as promoter of Renaissance Fiscal Services Ltd. (and Sponsor Director of Rar ARC), also has 9 years experience in advisory services with regards to debt syndication, resolution of stress cases and raising of additional finance for borrower companies through structured arrangements to facilitate their revival. During the course of rendering advisory services, he has worked closely with all banks and about 11 ARCs and has facilitated resolution of NPAs of more than 200 companies with ARCs and various public /private sectors banks. Several restructuring packages (value of debt approx. Rs. 9000 Cr).
Mr. Sandeep Vrat, qualified as B. Tech (Mechanical Engineering) from Indian Institute of Technology, Mumbai; MMS-Finance (MBA) from Jamnalal Bajaj Institute of Management Studies, Mumbai; CAIIB from Indian Institute of Bankers, has an experience of 28 years including 19 years in Banking and 9 years in Reliance ARC. Mr. Vrat joined IDBI Bank Ltd. (then IDBI Ltd.) as Management Trainee in 1987 and resigned as GM-Large Corporate Branch, IDBI in 2006, with exposure to Venture Capital, SME, Mid & Large Corporate lending, recovery including restructuring / OTS / CDR / BIFR/ Legal recovery. He also has 9 years experience in Reliance ARC (joined as Vice President & Group Head-Asset Management in 2006, and resigned as COO, Reliance ARC in May 2015, with role involving handling Acquisition, Resolution, Budgeting, Dealing with Rating Agencies, Auditors, etc.). He was actively involved in all acquisitions by Reliance ARC since its inception.
Mr Deepak Narang, qualified as M. Sc (Physics) from Delhi University; CAIIB; CFA (Inter) from ICFAI Hyderabad, is an ex-Executive Director, United Bank of India (UBI) having 37 years of banking experience. He was instrumental in turning around United Bank of India from loss making in September 2013 quarter and December 2013 quarter, to profit making in March 2014 quarter. He has received appreciation from Mr Raghu Ram Rajan, the Hon’ble Governor of RBI for turning around the Bank. He has also received awards from Hon’ble President of India in 2013 for UBI being the Best Bank in India for financing Micro Enterprises and 2nd prize for financing Small Enterprises. Some of the other notable actions taken by him are (i) Framing monitoring policy, credit policy and recovery policy for UBI; (iii) Writing articles in Financial Express (Make wilful default a serious crime – Dated 28-2-2015) and in NIBM’s Vinimaya June 2015 magazine (Act decisively to recover). Has also been instrumental in facilitating large recoveries from difficult cases.
Mr. Ramaswamy V. Iyer, is an Independent, non executive director on the Board of Rare ARC. Mr. Iyer, B. Sc., from Mumbai University, has more than 37 years experience in the fields of Public Sector Bank. He joined IDBI Bank Ltd. (then IDBI Ltd.) in Junior Management Cadre in 1978 and retired as Chief General Manager in June 2015, with exposure to Corporate Financing, Refinancing, Raising and Servicing of Domestic and International Resources, Audit, Corporate Strategy and Communication, Human resources etc. He has handled large exposure stressed loans portfolio, as
head of Focused Assets Management Group. Through intensive monitoring, he could successfully curb slippage of these loans to NPA, leading to improved recovery through timely and need based restructuring packages, both through CDR and non CDR routes. He has also attended 3 month exclusive Executive Management Programme from IIM-Ahmedabad
Mrs. Shikha Bhandari, Mrs. Shikha Bhandari, post graduate in M.Sc (Mathematics), is Additional Director (Non Executive Director) on the Board. She is having more than 8 years of experience in the field of administration and human resources.