Indiabulls Housing Finance names S S Mundra non-executive chairman

Executive chairman Sameer Gehlaut will be CEO at Indiabulls Ventures

Sameer Gehlaut has stepped down as executive chairman of Indiabulls Housing Finance with immediate effect. 

S S Mundra, former deputy governor of Reserve Bank of India and an independent director on the board, will be non-executive chairman, the company said on Wednesday.  

Mundra said he looked forward to working even more closely with the team.

Gehlaut, who steered the company since its inception in January 2000, has taken up the position of chief executive of another listed company promoted by him — Indiabulls Ventures. He will also be non-executive, non-independent director on the board the housing finance company. Under Gehlaut, the company completed its IPO in 2004 raising Rs 50 crore.