Sanjay Jain to Spearhead Capri Global’s Asset Reconstruction push
by Shrutee K/DNS
With an RBI licence expected soon, company is in overdrive with strategic expansion plans
Mumbai: Capri Global Capital Ltd (CGCL) – India’s leading financial institution focusing on the underserved, providing access to business and home finance to low- and middle-income individuals – has appointed Sanjay Jain as Executive Director. Mr. Jain will head the recently-announced Capri Global Asset Reconstruction Pvt Ltd. He was previously President and COO of the Asset Reconstruction Company India Ltd (ARCIL).
CGCL’s asset reconstruction arm is in keeping with its aggressive expansion plans to ensure financial inclusion for all. CGCL is committed to driving a positive change in the lives of the underserved through deep partnerships with customers ensuring their growth through a Flexible repayment and tailor made loan product to meet their individual needs. CGCL also boasts of the best-in-class turnaround time, doorstep service, and higher loan eligibility to ensure the larger goal is achieved.
It is in keeping with this philosophy that CGCL announced the asset reconstruction arm focused on resolving issues, from debt to managerial, rather than on acquiring cheap assets.
Capri Global Asset Reconstruction approached the Reserve Bank of India for a licence two months ago, and it is expected to come through in a few months. Jain, with his acknowledged expertise and experience, will lead this business and also contribute to CGCL’s overall strategic goals.
“I am looking forward to my innings with CGCL. We see great opportunity in the asset reconstruction space and are keenly awaiting the licence,” said Jain, who will be based in Mumbai. “We believe in our ability to resolve issues plaguing this sector and the impact that this will have on the economy as a whole.”
Rajesh Sharma, Founder of CGCL, said: “We are pleased to have Sanjay on our team. With his impeccable record, he is the perfect choice to head the asset reconstruction business. His unmatched expertise combined with our strong banking relationships will be of immense advantage in helping us resolve cases faster.”
Jain has more than 25 years of experience in the financial markets across restructuring and resolution of stressed assets, investment banking (debt and equity capital markets, mergers and acquisition advisory services), investor relationships, and project and corporate financial lease assistance. A post-graduate in commerce, he is also a chartered accountant.
About Capri Global Capital Limited:Established in 1997, Capri Global Capital Limited (CGCL) is one of the most widely extended, RBI registered, Non-Deposit Taking Systemically Important Non-Banking Financial Company (NBFC- ND- SI) in the country. The equity shares of CGCL are listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Capri group has expanded its network to 65 branches with a strong presence across North & West India covering 8 states with a headcount of 1,200+ employees. CGCL is focussed to Bridge the current gap in the market with innovative and flexible credit products for SMEs, delivered in an efficient and customer-friendly manner. The underlying objective is to support promising entrepreneurs in getting quick funds and realise their new business ideas.