L to R: Dhanendra Kumar, Chairman, Competition Advisory Service (India) LLP ; Sameer Kochhar, Chairman, SKOCH Group & Injeti Srinivas, Chairperson, International Financial Services Centres Authority (IFSCA)
L to R: Dhanendra Kumar, Chairman, Competition Advisory Service (India) LLP ; Sameer Kochhar, Chairman, SKOCH Group & Injeti Srinivas, Chairperson, International Financial Services Centres Authority (IFSCA)
Currently heading the maiden international financial services centre in India, Injeti Srinivas has played a pivotal role in decriminalisation of various minor, procedural and technical offenses under the Companies Act that led to a significant improvement in India’s ranking Ease-of-Doing Business.
He was instrumental in pushing through Insolvency and Bankruptcy Code (IBC). He ensured an increase in threshold for initiating insolvency proceedings under the IBC to Rs 1 crore. This move proved a boon for the MSMEs hit badly by the Covid pandemic. As Head of the Insolvency Law Committee, he pushed for the inclusion of home buyers as financial creditors under the IBC for housing projects to ensure they had powers to make construction firms accountable.
Srinivas has been instrumental in pushing through significant reforms in the corporate and finance sectors.
Injeti Srinivas Chairperson, International Financial Services Centres Authority (IFSCA)
Shri Injeti Srinivas belongs to the 1983 batch of the Indian Administrative Service (Odisha cadre). He superannuated in May 2020 after serving 37 years in various leadership roles in the Government of India and the Government of Odisha. He is Graduate in Economics (Honours) from the Shriram College of Commerce (University of Delhi) and did his Masters in Business Administration from Srathclyde Graduate Business School (University of Srathclyde, the UK.
As Director, Foreign Investment Promotion Board in the erstwhile Union Department of Industrial Policy and Promotion (now known as the Department for Promotion of Industry and Internal Trade) during 1998-2003, he was closely associated with the liberalization of foreign direct investment policy and industrial policy reforms. As Chairperson, National Pharmaceutical Pricing Authority (2014-15), he is credited with bringing many critical medicines, including medical devices under price control to make essential medicines more affordable. As Director General Sports Authority of India and Union Secretary of Sports (2015-17) and earlier as Joint Secretary, Sports (2007-2011), he is credited with having revitalized the National Sports Development Fund, developed the National Sports Development Code, conducted South Asian Games-2016 and formulated Khelo India Scheme.
Later as Union Secretary to Government of India in the Ministry of Corporate Affairs (2017-2020), he played a key role in the implementation of several major economic reforms, including the Insolvency and Bankruptcy Code, which has deeply impacted the borrowing culture in the country and helped banks effectively tackle the problem of non-performing assets. He is also credited with implementation of several initiatives aimed at enhancing the ease of doing business, including MCA 21 (version 3) and decriminalization of various offences under the Companies Act. He was also responsible for major initiatives on the corporate governance front, including strengthening the institution of independent directors. He chaired several committees constituted by the Government of India, the prominent ones including the Insolvency Law Committee, Competition Law Review Committee, Committee on Decriminalization of Companies Act and High Level Committee on Corporate Social Responsibility. He is currently a member of the Financial Stability and Development Council (FSDC) and the Sub-committee under it.
His areas of specialization include, among others, corporate law, industrial policy, foreign direct investment, development financing and MSME development. He assumed the responsibility of the first chairperson of the newly established International Financial Services Centres Authority, a unified financial regulator for international financial centres in India, in July 2020.
Shri Injeti Srinivas belongs to the 1983 batch of the Indian Administrative Service (Odisha cadre). He superannuated in May 2020 after serving 37 years in various leadership roles in the Government of India and the Government of Odisha. He is Graduate in Economics (Honours) from the Shriram College of Commerce (University of Delhi) and did his Masters in Business Administration from Srathclyde Graduate Business School (University of Srathclyde, the UK.
As Director, Foreign Investment Promotion Board in the erstwhile Union Department of Industrial Policy and Promotion (now known as the Department for Promotion of Industry and Internal Trade) during 1998-2003, he was closely associated with the liberalization of foreign direct investment policy and industrial policy reforms.
Injeti Srinivas Chairperson, International Financial Services Centres Authority (IFSCA)
As Chairperson, National Pharmaceutical Pricing Authority (2014-15), he is credited with bringing many critical medicines, including medical devices under price control to make essential medicines more affordable. As Director General Sports Authority of India and Union Secretary of Sports (2015-17) and earlier as Joint Secretary, Sports (2007-2011), he is credited with having revitalized the National Sports Development Fund, developed the National Sports Development Code, conducted South Asian Games-2016 and formulated Khelo India Scheme.
Later as Union Secretary to Government of India in the Ministry of Corporate Affairs (2017-2020), he played a key role in the implementation of several major economic reforms, including the Insolvency and Bankruptcy Code, which has deeply impacted the borrowing culture in the country and helped banks effectively tackle the problem of non-performing assets. He is also credited with implementation of several initiatives aimed at enhancing the ease of doing business, including MCA 21 (version 3) and decriminalization of various offences under the Companies Act. He was also responsible for major initiatives on the corporate governance front, including strengthening the institution of independent directors. He chaired several committees constituted by the Government of India, the prominent ones including the Insolvency Law Committee, Competition Law Review Committee, Committee on Decriminalization of Companies Act and High Level Committee on Corporate Social Responsibility. He is currently a member of the Financial Stability and Development Council (FSDC) and the Sub-committee under it.
His areas of specialization include, among others, corporate law, industrial policy, foreign direct investment, development financing and MSME development. He assumed the responsibility of the first chairperson of the newly established International Financial Services Centres Authority, a unified financial regulator for international financial centres in India, in July 2020.
Injeti Srinivas at SKOCH Public Service Award 2021
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