ASREC (India) Limited

Board of Directors

The Board of Directors of ASREC (India) Ltd. currently comprises of the following persons:

1. Shri. V. K. Shunglu, Chairman (Independent Director):

Shri V.K. Shunglu, IAS Retd. & Ex- Comptroller & Auditor General Of India, is the Chairman of  ASREC (India) Limited. He obtained B.A. (Honors) in Economics- St. Stephens College – New Delhi & M.A. in History, University of Delhi & was conferred with “John Kandusch” Award by INTOSAI in 1998. He is also currently on the board of Delhi Public School & Power Grid Corporation of India Ltd.


2. Dr. N.L. Mitra, Independent Director :

 Dr. N.L. Mitra is Ex- Vice Chancellor of National Law University of Jodhpur. He received his Masters degree in Commerce,  Masters in Law & PHD & Certificate in Human Rights from Strasbourg- France. He has been a Member of Legal Advisory  Committee of SEBI, Consultant to the Governor RBI on Financial & Banking sector reforms, Member of Standing Technical  Advisory Committee on Financial Regulation of RBI, Chairman/member of various Committees on Financial sector Law  Reforms such as Fiscal Discipline , Bankruptcy, Financial fraud , Investor Protection etc.



3. Shri. Mukund M. Chitale , Independent Director:

Shri Mukund M. Chitale is a Practising Chartered Accountant for the last 30 years & is a Partner of Mukund M. Chitale & Co. (CA Firm) He was also the President of The Institute of Chartered Accountants of India (1997-98). He has been a member on various Committees like the International Auditing Practices Committee of International Federation of Accountants. He has been appointed as a Governing council member of Banking Codes & Standards Board of India. He is also currently on the Board of Larsen & Toubro Ltd. Ram Ratna Wires Ltd.  Shriram Transport Finance Co. Ltd. , Principal  PNB Asset Management Company  pvt. Ltd. ONGC Mangalore Petrochemicals ltd., ONGC Petro Additions Ltd. Foseco India Ltd. & Essel                                                    Propack Ltd. Shri Chitale has been appointed as Chairman of the National Advisory  Committee on Accounting Standards                                         (NACAS), the country's apex body for  Accounting Standards, with effect from February 1, 2011 . 


4. Shri B.A. Prabhakar                                           

Shri B.A. Prabhakar is a Chartered Accountant having vast experience of 31 years, working in Bank of Baroda, Bank of India and Andhra Bank in various capacities in India and aborad. Shri B.A. Prabhakar retired as Chairman & Managing Director, Andhra Bank on attaining superannuation .





5. Shri Dhananjay Kumar Jain, Managing Director & CEO

Shri Dhananjay Kumar Jain has vast experience of 36 years in banking sector. Shri Dhananjay Kumar Jain worked in Union Bank of India as an officer from 1977 to 2013. During his service tenure he worked different departments of Bank like Credit Department, HR department, Industrial Relation Department, NPA Recovery and Legal Services Department and Credit Monitoring and Restructuring  Department. He was aptly promoted to the higher post in the Bank and he retired as a General Manager in- charge of NPA Recovery and Legal Services Department.


6.  Shri Ramesh Chand Thakur, Nominee Director


Shri Ramesh Chand Thakur is a post Graduate in M. Sc /DIP Internal Banking Management/ MBA. Presently Shri Ramesh Chand is working as General Manager of Bank of India. He has vast experience of 31 years in banking and 1 year in Recover Department of Bank.


7.  Shri Sanjay Aggarwal, Nominee Director


Shri Sanjay Aggarwal is Nominee Director of one of the sponsor Bank- Allahabad Bank. Shri Sanjay Aggarwal is a post Graduate in GB Pant University of Agriculture & Technology. Presently Shri Sanjay Aggarwal is working as General Manager (Recovery & Law) of Allahabad Bank. He has vast experience of 32 years in banking sector. During his tenure in Allahabad Bank, he has held many important positions including Branch head, Zonal Head, Field General Manager and General Manager.