DHFL appoints former SBI executive Vajinath Gavarshetty as new CEO

Shareholders vote on debt conversion plan at the AGM on Saturday

Dewan Housing Finance Corporation (DHFL) has appointed Vajinath M Gavarshetty as the new CEO on the recommendations of the core committee of lenders as well as the firm’s internal committee. Gavarshetty is the former chief general manager of State Bank of India.

“This will help the lenders monitor the working of the company,” said a public sector bank executive.

The housing financier also held its annual general meeting on Saturday, in which it put forth various proposals before its shareholders. The firm has sought approval for conversion of debt into equity, or new debt instruments, as part of the resolution plan.

According to