Mumbai: Capri Global Capital Ltd (CGCL) a 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. Jain was previously President and COO of the Asset Reconstruction Company India Ltd (ARCIL).
Jain will head the recently-announced Capri Global Asset Reconstruction Pvt Ltd.
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 his0020impeccable 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.