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Shares of Indiabulls Group stocks were trading in the positive territory on the BSE on Thursday, a day after the company informed that Subhash Sheoratan Mundra, former deputy governor of Reserve Bank of India (RBI), and an independent director on the board, will be non-executive chairman of Indiabulls Housing Finance (IBHFL). The announcement came after Sameer Gehlaut stepped down as executive chairman of Indiabulls Housing Finance with immediate effect.
"Mr. Gehlaut proposed the name of Mr. Subhash Sheoratan Mundra (Ex-Deputy Governor of Reserve Bank of India and an Independent Director on the Board of the Company) for the position of Non-Executive
