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Mumbai: P Santhosh has been recommended for the post of Managing Director (MD) and Chief Executive Officer (CEO) by the board of National Asset Reconstruction Company (NARCL) for a three-year term. Santhosh has been serving as the acting CEO since January after N Sundar tendered his sudden resignation.
NARCL began acquiring distressed assets actively under Santhosh’s interim leadership. By March 31, 2024, NARCL had purchased 18 accounts with outstanding loans adding up to ₹92,500 Crore.
Santhosh was previously serving as the Chief General Manager at Canara Bank, one of the sponsor institutions of NARCL, a government-backed entity that manages and resolves non-performing assets (NPAs) in the banking sector.
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