Ex-IDBI Bank Chairman RM Malla Joins Adani Capital

Mumbai, May 4 (PTI): Adani Capital, the non-banking finance arm of the diversified Adani Group has appointed RM Malla, the past chairman and managing director of IDB Bank, as an independent director as the one-year NBFC charts and aggressive growth path.

The Gautam Adani-run company also appointed Sunil Gulati as another independent director.

"We look forward to Malla's and Gulati's guidance as we build and grow Adani Capital to become a pre-eminent financial services company with a focus on entrepreneurship" said company chief executive Gaurav Gupta.

Previously Malla was the CMD of Sibdi and IDBI Bank, and MD & CEO of IFCI, and PTC India Financial Services.

Gulati was with RBL Bank and Yes Bank, Bank of America.

Launched in April, Adani Capital is focused on funding SSMEs and corporate through its 19 branches in Gujarat and Maharashtra. *********** HDFC staff joins hands with Aamir's Paani Foundation

Over 1.3 lakh citizens across Maharashtra responded to the call from Aamir Khan's Paani Foundation to offer support in the drought prone villages of the state by participating in the Satyamev Jayate Water Cup 2018 competition on the Labour Day, HDFC said today.

Of the over 1.3 lakh volunteers, 340 were HDFC staffers from HDFC branches in Mumbai, Navi Mumbai, Pune, Nagpur and Nashik, making them largest group of corporate volunteers, the lender said.

HDFC is one of the leading supporters to the Paani Foundation's work for creating a drought free Maharashtra for the past two years, HDFC chairman Deepak Parekh said.

*********** Jet Airways completes 25 years of operations

The Naresh Goyal-promoted Jet Airways completes 25 years of its operations tomorrow, becoming the only second domestic airline to achieve the feat after the state-run Air India, which will turn 86 this October.

The city-based carrier, in which UAE's Etihad Airways holds 24 per cent stake, had started services initially on domestic routes from May 5, 1993 with the launch of its first flight to Ahmedabad from Mumbai.

"In these 25 years, it has been our continuous endeavour to take India to the world...we will continue to pursue our strategic vision to connect our domestic network with the world, forming a bridge between the East and the West, while staying attentive to our roots in the domestic market," chairman Naresh Goyal said in his Silver Jubilee message.

*********** Parag Milk Foods makes key appointments

Dairy company Parag Milk Foods has strengthened its management team by appointing Harshad Joshi as chief operating officer, Amarendra Sathe as chief commercial officer, and Vimal Agarwal as the CFO.

Agarwal comes from PepsiCo, who will now be driving the analytics and finance disciplines at the diary firm.

The company has also roped in Niharendu Sarkar as a senior vice-president for logistics and supply chain.

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