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. G. C. Tewari,
Director
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Mr. G.C.Tewari, General Manager, Bank of India, is currently Chief Executive, European Branches of Bank of India, based at London. Bank of India is one of the leading Public Sector Banks in India and set up its London branch in 1946. Mr. Tewari possesses Masters Degree in Science and is a professionally qualified banker with CAIIB. Mr.Tewarihas rich experience of Operational Banking and Human Resources Development gained over the years as Zonal Head of Indore and Lucknow Zones, General Manager, New Delhi and GM (Human Resources) at Head Office of Bank of India prior to his moving to international assignment at London. Mr. Tewari was Chairman of Regional Rural Bank, Giridih, Bihar. He joined Bank of India in July 1975.
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Prof. G. George,
Non Executive Director |
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Prof. George was appointed to the board of IIFC (UK) Limited on 19th November, 2010 as Non-Executive Director. He is Professor and Deputy Head of Innovation and Entrepreneurship and Director, Rajiv Gandhi Centre for Innovation and Entrepreneurship at the Business School of Imperial College London. His current academic role, inter alia, involves working on urban infrastructure and energy projects to examine governance and best practices globally. He has been keenly involved with Indian Infrastructure projects such as airports, energy and health through PPP and public finance initiatives. Prof. George also serves on the Strategy Board of Energy Futures Lab. He has experience of functioning at Board of Directors and Advisory levels in Cquensys, Cascade Asset Management, Viswagen Biotech Pvt. Ltd. Fluent Systems LLC and Arc-Con Developers.
Before joining Imperial College, Prof. George held tenured positions at the London Business School, where he served as Faculty Director of the Institute of Technology and at the University of Wisconsin-Madison, where he directed the Applied Ventures in Entrepreneurship Program. Prof. George has received several prestigious international honours and awards. Prof. George is Ph.D. in Management from Virginia Commonwealth University, Master of Management Studies and Master of Science (Honours) in Biological Sciences, BITS, Pilani, India.
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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
