State-owned power sector lender REC Ltd said that Ajoy Choudhury has been appointed as Director (Finance) on the company’s Board effective from today i.e. June 1, 2020.
Prior to this, Choudhury was handling the post of Executive Director (Finance) REC Ltd. The state-owned lender notified through a regulatory filing that “Ajoy Choudhury… has been appointed as Director (Finance) on the Board of the REC Ltd w.e.f. June 1, 2020, till the date of his superannuation i.e. January 31, 2024, or until further order, whichever event occurs the earliest.”
The move came after Ajeet Kumar Agarwal Director (Finance), who was also holding additional charge of the post of Chairman & Managing Director of REC Ltd, has superannuated from the services of the company on May 31, 2020, and has ceased to be a Director on the Board and Key Managerial Personnel, of REC Ltd with effect from June 1, 2020, the company further said.
Choudhury was earlier working in a senior management position in REC and has handled a gamut of finance portfolios such as International Finance, Contracts Management, Loans & Recovery, Corporate Accounts, Resource Mobilisation and Treasury etc.