Altico Capital's chief executive officer Sanjay Grewal quits amid crisis

Sanjay Grewal, chief executive officer (CEO) of troubled real estate financier Altico Capital, resigned on Tuesday. 

This comes at a time when lenders are cobbling up a restructuring package for the finance company that defaulted on payments. No replacement for Grewal has been found yet. The expectation is that this is the time when the senior management member should be staying on to tide over the hard times, a senior banker said.

He came on board as CEO in early 2016. Grewal had served as corporate and investment banking head for IDFC Bank. Before that, he was the group co-head of project