Tourism Finance Corp appoints Parkash Chand as additional Non-Exec Director

TFCI share price fell more than 2 percent on September 20

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Tourism Finance Corporation of India (TFCI), on September 20, announced the appointment of Parkash Chand as an additional director in Non-Executive and Non-Independent category.

Parkash Chand is “appointed as additional director in the category of non-executive non-independent director (representing LIC of India) of the Company with effect from September 20, 2023 subject to approval of the shareholders,” the company said in its regulatory filing.

Parkash Chand, Associate of Insurance Institute of India is a retired zonal manager of LIC of India. Having 38 years of experience, he has been in different roles including Zonal Manager, Central Zone, CEO of LIC Cards, Chief Personnel for Mumbai Division and Sr. DMs for New Delhi and Nagpur divisions. He was also the nominee director of National E-Governance Services Limited.

The company informed the exchanges that Chand does not have any relationship with the existing Directors of the company.

TFCI provides financial assistance to various enterprises in tourism sector including hotels, resorts, food courts, restaurants, amusement parks and multiplexes. The company offers rupee term loan, corporate loan and subscription to debentures and equities.

The company's share price fell more than 2 percent on September 20. TFCI stock has surged 47.11 percent in the last 6 months.  At 1:23 pm, the stock was trading at Rs 101, down 2.41 percent from the previous close.

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