Srei Infra CEO Rakesh Bhutoria resigns

Srei Infrastructure Finance Chief Executive Officer Rakesh Bhutoria has resigned, two people familiar with the development told Moneycontrol on condition of anonymity.

Bhutoria is serving his notice period and his last day at the firm is not decided yet, one of the persons quoted above said.

Srei Group is currently in the middle of negotiations with lenders for a debt recast.

Prior to joining Srei, Bhutoria was the Group EVP & Head – Commercial Banking & Strategic Initiatives at IDFC Bank, where he was instrumental in building a profitable commercial banking franchise with an all India presence.

Bhutoria has led large corporates, mid-caps, MNCs, SMEs, CVs & ECM businesses. He has actively led bank-wide initiatives as a Steering Committee Member. Earlier, Bhutoria spent 14 years as Managing Director with Standard Chartered Bank in senior Coverage and Corporate Finance roles across India and the Middle East.

Also, Bhutoria served as an Independent Director on the Board of a Mauritius Bank and chaired key board committees over a three year tenure.

When contacted, Srei declined to comment.