At meeting held on 12 March 2020
The Board of IIFL Finance at its meeting held on 12 March 2020 has approved the following -The Board noted that on 11 March 2020, IIFL Finance received the non-banking finance company license from the Reserve Bank of India to carry on the non banking financial activity. The merger of India Infoline Finance (NBFC subsidiary) with the company will be effective after the requisite forms are filed with the RoC by 31 March 2020.
Appointment of Sumit Bali, ED and CEO of India Infoline Finance as an Additional Director in the capacity of Executive Director and CEO of the company with effect from 12 March 2020.
Appointment of Rajesh Rajak as the CFO of the company with effect from 12 March 2020.
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