The sector regulator has recalled refinancing support worth nearly Rs 500 crore —a punitive action that has set off a sweeping leadership overhaul at the company. ET was the first to report on April 13 that managing director and CEO Sachinder Bhinder was being asked to step down, with Manu Singh — former home loans head at Kotak Mahindra Bank — set to take over. A week later, on April 20, the company confirmed Bhinder's resignation and Singh's appointment as the new CEO.
Aavas Financiers is under investigation by the NHB for loan classification lapses. The sector regulator has recalled refinancing support worth nearly Rs 500 crore, leading to a sweeping leadership overhaul. Managing Director and CEO Sachinder Bhinder has resigned, with Manu…
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