Indiabulls Housing Finance on Thursday said the board has recommended Gagan Banga as CEO of the proposed entity to be formed after its merger with Lakshmi Vilas Bank.
This is to inform you that the board of directors of IHFL have recommended that in order to ensure continuity and to provide broader oversight and the benefit of vision of its Chairman Sameer Gehlaut to the amalgamated bank, Indiabulls Housing Finance said in a regulatory filing..
Gehlaut has been proposed as non-executive chairman of the merged entity, it added.
In order to ensure smooth transition and continued growth, Banga, who is the current managing director and chief executive officer of IHFL, should continue in the same position in the amalgamated bank, it said.