Genesis of IIFC(UK)
It was announced in the Government of India Budget 2007-08 that, with a view to further supplementing financial resources for infrastructure development in India, an off-shore wholly owned subsidiary of IIFCL will be set up. The subsidiary company would borrow funds from the RBI and lend to Indian companies implementing infrastructure projects in India, or to co-finance their External Commercial Borrowings for such projects, solely for capital expenditure outside India. Based on a cross-country study, it was approved by the Government of India that the subsidiary company may be established in the United Kingdom. The India Infrastructure Finance Company (UK) Limited was, accordingly, incorporated within the Registrar of Companies of England and Wales at London on February 7, 2008 [Company No. 6496661] under the UK Companies Act 1985. The company is registered with Financial Services Authority of UK as Annex-I Financial Institution for the purpose of compliance with UK Money Laundering Regulations 2007. The authorised capital of IIFC (UK) Limited is USD 500 million and the current paid up capital of the Company is USD 50 million.
Board of Directors
|Shri Pankaj Jain has been appointed by the Central Government as Government of India Nominee Director on the Board of IIFC (UK) Limited. The appointment is effective from 15 Jan 2016.Government of India has assigned the additional charge of the post of Managing Director, IIFCL to Mr. Pankaj Jain with effect from 28 December 2017. Consequentially, Mr. Pankaj Jain has been inducted as Chairman of IIFC (UK) Limited with effect from 28 December 2017. Mr. Pankaj Jain is an IAS officer of the 1990 batch, currently the Joint Secretary, Department of Financial Services, Ministry of Finance, Government of India. He is an alumnus of Shri Ram College of Commerce from where he has a Bachelor’s degree in Commerce followed by an MBA from FMS Delhi. He also has a professional qualification in the discipline of accounting as an Associate of the Institute of Cost Accountants of India. He has worked for the Governments of Assam and Meghalaya. This encompasses being District Magistrate at Shillong and Tura along with assignments in the Secretariat and State Corporations dealing with Power, Planning, Information Technology, Livelihood Promotion and Industries as well as being Director with the Government of India in the Ministry of Micro, Small and Medium Enterprises. His work experience also includes a three year stint with the British International Aid Agency – the Department for International Development (DFID) as Governance Adviser and Senior Program Manager. His areas of interest include Intellectual Property Rights where he has collaborated with UNIDO to develop an IPR guide for the Indian Toy Industry. He has also been a consultant to the Commonwealth Secretariat and the Asian Productivity Organisation on adoption of IT by small and medium enterprises in India and Bangladesh.
Mr. Sanjiv Chadha, General Manager, State Bank of India, is currently Regional Head, UK Region, State Bank of India, based at London. State Bank of India is the leading Public Sector Bank in India and set up its London branch in 1921. Mr. Chadha brings with him rich experience of 27 years in Retail Banking, Credit, Investment and International Banking gained in various capacities over the years in India and abroad. Prior to his moving to international assignment at London, he was heading a network of 400 retail branches in Northern Tamil Nadu, including the Chennai Metropolitan Area. He has also served as Executive Secretary to the Chairman, State Bank of India and has headed the Mergers and Acquisitions and Private Equity business at SBI Capital Markets. Mr. Chadha has earlier served as CEO at SBI, Los Angeles, USA. He was appointed to the Board of IIFC(UK) on 22nd January 2015.
|Mr. Manoj Ladwa, a Leading Legal Professional, is a graduate of the London School of Economics. He is dual qualified as English solicitor (non-practicing) as well as Indian advocate. He is the Founder and Chief Executive of the MLS Chase Group, London. He has interests in India focused advisory services, corporate affairs and publishing. He is a recognized expert on FDI into India. He established the London office of the Federation of Indian Chambers of Commerce in the year 2003. Mr. Ladwa has served on various trade promotion committees, including those of UKTI and London Chamber of Commerce. He was appointed to the Board of IIFC(UK) on 19th September 2016.|
|Mr. S. Krishnan was appointed on the board of IIFC(UK) Limited on 1st September 2012 as Managing Director. Before reporting to IIFC(UK), he was Chief General Manager in India Infrastructure Finance Company Limited at New Delhi.Mr. Krishnan is a Post Graduate Diploma holder in Business Administration and is a professionally qualified banker with CAIIB. Mr. Krishnan started his banking career in 1984 and has worked in various areas of Banking especially corporate Banking in and outside India gained in various capacities over the years at State Bank of Mysore, State Bank of India Singapore, State Bank of Bikaner & Jaipur.|
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