Finbud Financial Services Limited Receives Regulatory Approvals and Appoints Managing Director & CEO
Finbud Financial Services Limited announced it has received approval from the Reserve Bank of India (RBI) for a proposed preferential allotment in LTCV Credit Private Limited, marking a change in its status from a wholly-owned subsidiary to a subsidiary. The company also secured RBI approval for the allotment of a 33.33% stake to Mr. Ajay Vikram Singh and his appointment as Managing Director & CEO.The preferential allotment involves 25,10,789 Equity Shares of a face value of INR 10 each at a premium of INR 0.50 per share, aggregating to INR 2,63,63,285.
Details Regarding LTCV Credit Private Limited:
| Particulars | Details |
|---|---|
| Name of the Subsidiary Company | LTCV Credit Private Limited |
| Turnover | Rs. 68,04,197/- |
| Percentage of Turnover | 0.30% |
Mr. Ajay Vikram Singh holds an MBA from the Indian Institute of Management (IIM) Calcutta (2004) and brings over 20 years of experience in banking and lending. Prior to joining Finbud, he held leadership roles at Citibank, Clix Capital, Paytm, and HSBC. At HSBC, he served as Head of Retail Assets for India, managing a retail assets portfolio of approximately USD 2 billion.
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