The Reserve Bank of India (RBI) vide its press release dated 04th October, 2021 superseded the Board of Directors of Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL) under Section 45 IE of the Reserve Bank of India Act, 1934, and has appointed Shri Rajneesh Sharma as its Administrator with effect from 04th October, 2021. The RBI has also, by it's press release dated 04th October, 2021, constituted a 3-member committee under Section 45 IE of the Reserve Bank of India Act, 1934, to act as advisors to the Administrator.

The members of the committee are:
  • Shri Venkat Nageswar Chalasani, Former Deputy Managing Director, State Bank of India
  • Shri T T Srinivasaraghavan, Former Managing Director, Sundaram Finance Limited
  • Shri Farokh N Subedar, Former Chief Operating Officer and Company Secretary, Tata Sons Limited
`