Genesis of India Infrastructure Finance Company (UK) Limited
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
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Mr. S K Goel, Chairman
(CMD, IIFCL) |
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Mr. S K Goel assumed charge as Chairman and Managing Director of India Infrastructure Finance Company Limited with effect from 24 June 2010. He started his career from Bank of Baroda as an officer. During his long and varied experience, Mr. Goel has held various positions in Public Sector Banks including Andhra Bank, Bank of India, Allahabad Bank, UCO Bank and IIBI. Prior to heading IIFCL, Mr. S K Goel has been Chairman & Managing Director of UCO Bank from August 2007 to June 2010. Under his leadership, UCO Bank achieved outstanding growth in lending to agriculture, excellence in lending to MICRO enterprises and MSMEs which was duly recognized by the Government of India and the Hon’ble Prime Minister, crowning UCO Bank twice with NATIONAL AWARD. Mr. Goel is a first class post graduate in commerce from Delhi School of Economics. He did his LLB from University of Rajasthan. He is a Certified Associate member of Indian Institute of Bankers.
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Mr. S S Mundra, Director
(GoI nominee) |
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Mr. S S Mundra is the Chief Executive, (European Operations), Bank of Baroda at London. Prior to this, he held the charge as General Manager of the Bank at Mumbai. In the banking career of 30 years, he has held various positions, which, inter alia, include Head of Treasury function, posting at the Bank’s subsidiary at Uganda, Secretary to the Board of Directors of the Bank and been associated with investor relationship functions of the Bank. Mr. Mundra has represented Bank of Baroda as a director on the Board of MITCON, Pune, Central Depository Services Limited, Mumbai, Clearing Corporation of India Limited, Mumbai and BOB Asset Management Company. Mr Mundra is a Post-Graduate in Commerce and a Certified Associate of Indian Institute of Banking and Finance.
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Dr. N K Madan,
Managing Director |
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Dr. N K Madan is associated with IIFCL and IIFC (UK) since their inception in 2006 and 2008, respectively. Prior to joining as MD of IIFC (UK), he was Vice President in IIFCL. In the last 30 years of service, Dr. Madan has worked in various capacities with banks/ FIs and the Government of India in the areas of Infrastructure, SMEs, Housing, banking, execution of bilateral/multilateral institutions’ funded projects and policy formulations. As GM in SIDBI, he represented the Bank on the Board of HP Financial Corporation, Rajasthan Asset Management Co., Rajasthan Venture Capital Fund/ Trustee Co. Dr. Madan is Post-Graduate in Economics, Commerce, a Certified Associate of Indian Institute of Banking & Finance and Ph.D.
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parent company
