Right to Information Act, 2005
The particulars of organization, functions and duties.
Stressed Assets Stabilization Fund (SASF) having its Principal Office at 3rd Floor, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai – 400 005 was constituted by the Govt. of India as a Special Purpose Vehicle (SPV) Trust for acquiring stressed and non-performing assets of erstwhile Industrial Development Bank of India (IDBI). SASF has been accorded the status of Financial Institution to take advantage of provision of the Recovery of Debts due to Banks and Financial Institutions, 1993 by approaching Debt Recovery Tribunal (DRT) as well as Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002 for resolution of the assets acquired along with proceedings under Insolvency and Bankruptcy Code, 2016 (IBC) through NCLT.
SASF is managed by a Board of Trustees appointed from time to time by Govt. of India. As per notification F.No.7/8/2019-BOA.II dated March 04, 2020 issued by GoI, DFS the present Board of Trustees are as below:
|Sr. No||Designation||Position in Board of Trustees||Persons holding the designation as on date of notification|
|01||Managing Director, State Bank of India||Chairman of Board of Trustees||Shri C. S. Setty|
|02||Executive Director, Bank of Baroda||Trustee||Shri Shanti Lal Jain|
|03||Executive Director, Union Bank of India||Trustee||Shri Manas Ranjan Biswal|
|04||Chief Executive, Indian Banks’ Association||Trustee||Shri Sunil Mehta|
Objects of SASF
The Trust shall manage, administer and realise the Stressed Assets and for the purpose do all such acts, deeds and things as may be required including without limitation taking action for realisation and recovery of dues with or without intervention of the courts / tribunals and as if it were an arrear of land revenue, arriving at one time settlements, negotiated settlements and taking measures to enforce the available securities for effective and efficacious recovery under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 or securitisation, restructuring or reconstruction of Stressed Assets and for this purpose act as trustees, managers, administrators, receivers, valuers or otherwise and engage, appoint, discharge, remove and replace any intermediaries, agents, professionals or consultants.
|ET (Alok Agarwal)|
|GM (Amar Kumar Thakur)|
|DGM (Anjali Nadkarni)||DGM (Sanjeev Kumar)||DGM (Meena Chandrashekhar)||DGM (Sneha Abhyankar)|
|Legal (AGM - Radhey Shyam Singh)|
|AGM (Charandeep Singh)||AGM (Shreshtha Paul)||AGM (Imran Khan)||AGM (Shubhranshu Sahoo)|
|Manager (Sandeep Saini)||Manager (Rajesh Bobhate)||AGM (Deepakrao Patil)||AGM (Anjali Pitkar)|
|Manager (Bhupesh Thapa)||Asst. Manager (Sitanshu Pati)||Manager (Samyaroop William)||Manager (Manish Agrawal)|
|Manager (Inderpal Singh)|
|Asst. Manager (Divya Singh)|