New Delhi: Pawan K Kumar (IRS) has been appointed as Deputy Managing Director (Dy.MD) of India Infrastructure Finance Company Limited (IIFCL). The Appointments Committee of the Cabinet (ACC) has approved his appointment on Tuesday. Currently, he is working as Executive Director (ED) of Insolvency and Bankruptcy Board of India (IBBI). According to a DoPT order, Pawan has been appointed to the post on deputation basis, for a period of three years from the date of his taking over charge of the post, or until further orders, whichever is earlier.
Kumar is an Indian Revenue Service (IRS) officer of 1990-batch. He holds a master's degree in Commerce from Delhi University and an M Phil from Commerce Department of Delhi School of Economics. He is also a member of the Institute of Cost and Management Accountants of India (ICMAI). Prior to joining IBBI, he was serving as the Commissioner of Income Tax at Jalandhar with the additional charge of Palampur in Himachal Pradesh. He has quite a long experience in administration of income tax, including investigation and assessment. He served earlier as Director in the Ministry of Corporate Affairs.
IIFCL is a wholly-owned Government of India company set up in 2006 to provide long term finance to viable infrastructure projects through the Scheme for Financing Viable Infrastructure Projects through a Special Purpose Vehicle called India Infrastructure Finance Company Ltd (IIFCL), broadly referred to as SIFTI. IIFCL provides long-term funds to commercially viable infrastructure projects, taking an exposure of up to 20 percent of total project cost etc.
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