Chairman & Managing Director
Shri Sanjay Malhotra, IAS assumed the charge of Chairman & Managing Director, REC Limited w.e.f. 09.11.2020.
Shri Sanjay Malhotra is a 1990-batch Indian Administrative Service officer of Rajasthan cadre. Prior to his joining as Chairman & Managing Director of REC Limited, he was posted as Additional Secretary in the Ministry of Power. He is an Engineering Graduate in Computer Science from the Indian Institute of Technology, Kanpur and has a Masters in Public Policy from the Princeton University. With demonstrated leadership and excellence in his career of over 30 years, Shri Malhotra has worked in multifarious sectors including power, finance and taxation, information technology, mines etc.
He has extensive experience in the Indian power sector both at the state as well as the Central Government. As Principal Secretary, in-charge of Energy Department in Rajasthan, he spearheaded many initiatives including appointment of distribution franchisees in four towns, introduction of PPP in transmission and innovations in Metering, Billing and Collection. As Additional Secretary in the Ministry of Power, he was looking after transmission, distribution, reforms and restructuring and was deeply involved in reforms, policy initiatives and privatization of distribution utilities of Union Territories.
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.
Executive Director, REC Ltd
Shri R. Lakshmanan is an IAS officer of 2004 batch, presently working as Executive Director in REC Ltd. He is also a chartered accountant. In REC, he is looking after State sector Transmission & Distribution business along with Stressed Assets & IT. He is also looking after GoI programmes namely DDUGJY, Saubhagya, 24X7 Power for All and UDAY.
Prior to joining REC, he was Managing Director in South Bihar Power Distribution Company Limited (SBPDCL). As managing director of the South Bihar Power Distribution Company and Director, Administration, Bihar State Power Holding Company, he had played an important role in providing impetus to village electrification & household electrification work in Bihar and bringing down the AT&C losses.
Dr. Kajal is an IAS officer of 2008 batch, presently working as Executive Director in REC Ltd. she is looking after GoIprogrammes namely DDUGJY&Saubhagya
Administrative and managerial oversight with technical and strategic inputs on RMNCHA in public sector driven programs. Monitoring throughout project implementation. Driving teams to achieve objectives with tight deadlines. Extensive experience at cross cutting edge with multiple stakeholders such as NGOs, International organizations and others. Skilled in operations, policy design, program management, Negotiation, Strategic Planning, and Monitoring and Evaluation with exceptional inter personal communication skills. A clinically trained obstetrician and gynecologist from PGIMER, India. Passionate for healthcare, completed Global Health Sciences at UCSF. Multi country experience esp LMICs for interventions for "quality health for all."
Executive Director, REC Ltd.
Shri Fuzail Ahmad, is an Electrical Engineering graduate from College Of Technology, G.B. Pant University of Agriculture & Technology, Pant Nagar, Uttarakhand. He has been working in REC since February, 2006. Presently, he is member of the core team for implementation of flagship programmes of Government of India ,namely, DDUGJY and Saubhagya, aiming creation & strengthening of distribution infrastructure in rural areas and universal household electrification. He has headed company’s business in Bihar, Jharkhand & NER States; and, also provided impetus to monitoring of loan assets as head of the PMG division. Prior to joining REC, he served NTPC Ltd. ,Power Grid Corporation of India Ltd. and has experience in Project Management, Planning, O&M of EHV transmission system and advanced technologies as HVDC, FACT, SVCs etc.