NEW DELHI: State-owned shadow banking firm REC Ltd on Monday said its Executive Director Ajoy Choudhury has been appointed as Director (Finance).
"Ajoy Choudhury, presently Executive Director (Finance), REC Ltd has been appointed as Director (Finance) on the Board of the REC Ltd with effect from June 1, 2020 till the date of his superannuation i.e. January 31, 2024 or until further order, whichever event occurs the earliest," a regulatory filing said.
Ajeet Kumar Agarwal Director (Finance), who was also holding additional charge of the post of Chairman & Managing Director of the REC, has superannuated on May 31, 2020 and ceased to be a director on the board from June 1, according to the statement.
He was earlier working in senior management position in REC and has handled a gamut of finance portfolios such as international finance, contracts management, loans & recovery, corporate accounts, resource mobilisation & treasury etc.
He has been instrumental in implementation of various systemic improvements, including formulation of loan recovery guidelines, improving communication and services to customers and managing overall resources and treasury.
Choudhury is also a nominee director on the Board of REC Power Distribution Company Limited (a wholly-owned subsidiary of REC) and TRN Energy Private Limited.
Prior to joining REC, he has experience of working in reputed Power Sector PSUs like Power grid Corporation and NHPC.