RBI appoints 3-member advisory panel for DHFL

Reserve Bank on Friday constituted a three-member panel to advise administrator of DHFL, ahead of formally moving for resolution of   troubled mortg lender under insolvency law.

MASSIVE: RBI Supersedes DHFL's Board, Appoints Administrator For Insolvency Proceedings

IDFC First Bank's n-Executive Chairman Rajiv Lall, ICICI Prudential Life Insurance's Managing Director and Chief Executive N S Kannan, and mutual funds' association AMFI's Chief Executive N S Venkatesh would be part of panel, an official statement said.

On Monday, Reserve Bank of India (RBI) superseded DHFL's board and placed company under an administrator in wake of governance issues and severe liquidity crisis which had led to a string of defaults. Indian Overseas Bank's former managing director R Subramaniakumar was appointed as administrator. 

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