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. He is a recipient of Padma Bhushan in 2019 for his contribution to the civil services.


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 , Independent Director:                                          

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 Girish Sharan Sinha , Managing Director & CEO

Shri Girish Sharan Sinha has focused on Stressed Asset Management and financial market during his 13- year career. He started his profession, in ARC industry, with M/S Asrec (India) Limited (ASREC), where he streamlined and spearheaded the asset reconstruction business of the Company. He was also instrumental in setting & implementing ASREC’s IT strategy. 

His wealth of experience in creating and building business models in ASREC could not escape the attention of the ARC industry and consequently he moved out of ASREC and accepted the invitation of a reputed ARC to shoulder the responsibilities of the Chief Operating Officer. Now he has rejoined ASREC as its Managing Director & Chief Executive Officer & he sets and evolves the strategic direction for the company and its business, while nurturing a strong leadership team to drive its execution. He has a strong track record of successful acquisitions of financial assets and its timely resolutions.He holds a degree in MBA - Finance (Investment & Portfolio Management). Prior to his assignment in ARCs, he worked in Central Bank of India and Bank of India in various capacities.

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 from GB Pant University of Agriculture & Technology. Presently Shri Sanjay Aggarwal is working as Chief Financial Officer 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.

8. Shri Bhaskara Rao Kare, Nominee Director


Shri Bhaskara Rao Kare is a BA, CAIIB-I and Adv. Management. Shri Bhaskara Rao Kare has vast experience of 29 years in the Banking Industry. Shri Bhaskara Rao Kare is currently working as General Manager, Andhra Bank.