Shri Ajoy Choudhury
Shri Ajoy Choudhury (DIN: 06629871)
Shri Ajoy Choudhury is Director (Finance) of REC Limited since June 1, 2020. He is an Associate Member of the Institute of Cost & Management Accountants of India. He has over 31 years of experience in Indian Power Sector across diverse functions such as International Finance, Contracts Management, Loans & Recovery, Corporate Accounts, Resource Mobilization & Treasury etc. He has been working in REC since April 16, 2007 at Senior Management positions and has been instrumental in implementation of various systemic improvements including formulation of Loan Recovery guidelines, improving communication and services to customers and managing overall Resources and Treasury in REC in an efficient manner. He has also been a member of Core Team for implementation of ‘Ujwal DISCOM Assurance Yojana’ (UDAY), flagship programme of Government of India, aimed at turnaround of Distribution Companies in the Indian Power Sector. Prior to joining REC, he has worked at various levels with Powergrid Corporation of India Limited and NHPC Limited, over 19 years.
As Director (Finance), he provides directions with respect to Financial Management and Operations of the organization encompassing organizational and financial planning, formulation of financial policy, financial accounting, management control systems, cash and funds management, tax planning, mobilization and management of resources, liaison with financial institutions and capital market players. He also supervises treasury functions, lending operations and advises on corporate risk management matters.
He is also a Nominee Director on the Board of two wholly owned subsidiaries of REC i.e., REC Power Distribution Company Limited since March 25, 2019 and REC Transmission Projects Company Limited since June 12, 2020. He also served as a Nominee Director on the Board of TRN Energy Private Limited.
At the date of becoming Director (Finance), Shri Ajoy Choudhury was holding 200 Equity Shares in the Company and has no inter-se relation with any other Director of the Company.