Pradip Shah appointed National Asset Reconstruction Company (NARCL) Chairman

Why in news?

• Pradip Shah, founder of IndAsia Fund Advisors, has been appointed chairman of National Asset Reconstruction Company (NARCL).

About the appointments

• Pradip Shah, founder of IndAsia Fund Advisors, has been appointed chairman of National Asset Reconstruction Company (NARCL) while Aditya Birla Asset Reconstruction Company managing director Sanjay Jain will be the chief executive of India Debt Resolution Company (IDRCL), the privately owned asset management company (AMC) mandated to resolve bad loans acquired by NARCL
• Diwakar Gupta, former managing director of State Bank of India NSE -0.81 %, is selected as chairman of
• Before joining Aditya Birla ARC, Jain was with Asset Reconstruction Company of India, J M Financial and SBI Capital Markets. He has experience of 29 years in corporate lending, investment banking and stressed fund management.
• After superannuating from SBI, Gupta joined Aditya Birla Financial Services as a senior advisor and later joined Asian Development Bank as its vice president.