Indiabulls announces appointment of two directors

New Delhi: Indiabulls Group, an Indian conglomerate headquartered in Gurugram in its Board meeting held today i.e., November 14, 2023, announced Appointment of Directors.

The company appoints Mrs. Shefali Shah, a Retired Indian Revenue Services (IRS) (Income Tax) Officer, as an Independent Director and Re-appointment of Mr. Dinabandhu Mohapatra, former MD & CEO, Bank of India, as an Independent Director.

The Date of appointment/cessation of Shefali is applicable for a term of 3 years w.e.f. November 14, 2023 upto November 13, 2026 and Dinabandhu Re-appointed for a term of 3 years w.e.f. November 23, 2023 upto November 22, 2026.

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Profile Mrs. Shefali Shah, Retired Indian Revenue Services (“IRS”) (Income Tax) Officer:

Mrs. Shefali Shah is a Non-Executive and Independent Director of the Company. She holds a Masters’ degree in Economics from University of Rajasthan. Mrs. Shefali Shah is a retired Indian Revenue Services (“IRS”) (Income Tax) officer. in her illustrious career as an IRS officer spanning over 35 years, she held senior level positions with the Government of India in the areas of Income Tax, including as the Principal Chief Commissioner of Income Tax.

Post Superannuation, she has been appointed as the Chairperson of the Quality Review Board, a statutory body constituted by Central Government under Chartered Accountants Act to review the
quality of audit services provided by the members of ICAI. She is a Senior Policy Adviser to Save Life Foundation, a Non-profit organization working on road safety issues including audit of construction, forensic crash investigation, formulation of standards of road construction, advocacy on road safety among others. She is also a Senior Policy Adviser to Nangia Anderson Private Limited on policy matters and government affairs.

She is also an Independent Director on the Board of Go Digit Life Insurance Ltd, TP Central Odisha Distribution Limited, TP Northern Odisha Distribution Limited, Raigad Pen Growth Centre Limited and Tata Power Delhi Distribution Limited.

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Profile of Mr. Dinabandhu Mohapatra, former MD & CEO, Bank of India:

Mr. Dinabandhu Mohapatra, former MD & CEO, Bank of India, is a seasoned and committed banker, with a distinguished career spanning over three decades, during which he held various high level positions, including Executive Director of Canara Bank and Chief Executive Officer of Hong Kong and Singapore Centres of Bank of India. Mr. Mohapatra has vast knowledge and multi - dimensional banking experience including Treasury Operations, International Banking, Priority Sector Lending, Corporate Lending, Marketing, Recovery, Human Resources. Mr. Mohapatra, a post-graduate in Economics and a graduate in Law, joined Bank of India as a Direct Recruit Officer in the year 1984.

During his career spanning over three decades at Bank of India, he has headed various Branches, Departments, Zones and National Banking Groups in Eastern, Western, Northern and Southern parts of the country. As Executive Director of Canara Bank, he was overseeing International Operations, Overseas Credit, Strategic Planning & Development (including Economic Intelligence & BPR), Retail Resources, Marketing, Selling & Cross-selling, Government Business and Fee Income Vertical, Corporate Credit, PAG & Syndication, CDR & Stressed Accounts, Financial Management & Subsidiaries. He is also an Independent Director on the Board of Indiabulls Commercial Credit Limited and Regaal Resources Limited.

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