BWI: Mr. M.N. Singh and Mr. A.K. Purwar Join as Independent Directors on the Board of India Infoline Investment Services Ltd

Press release from Business Wire India
Source: India Infoline Limited
Friday, October 09, 2009 04:42 PM IST (11:12 AM GMT)
Editors: General: Economy, People; Business: Accounting & management consultancy services, Banking & financial services, Business services, Financial Analyst, Stock exchanges
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Mr. M.N. Singh and Mr. A.K. Purwar Join as Independent Directors on the Board of India Infoline Investment Services Ltd


Mumbai, Maharashtra, India, Friday, October 09, 2009 -- (Business Wire India) -- The Board of Directors of India Infoline Investment Serviced Ltd have approved the appointment of Mr. M.N. Singh - Former Director General of Police, Mumbai and Mr. A. K. Purwar, ex-Chairman of the State Bank of India, as independent directors on the Board of the Company.

In his 35 years long service with the government, Mr Singh had held many important positions in the police as well as in the ministry. He has worked as the Chief of Crime Branch of Mumbai Police, the State CID, and Anti Corruption Bureau of Maharashtra State as well and brings with him vast experience in handling all types of crimes. Mr. Singh is also known for his administrative acumen, drive and in-depth understanding of macro factors that interface with financial institutions and financial services in respect of risk management and defaulting assets. He has also won many distinguished awards like the 'Indian Police Medal' for meritorious services and the 'President's Police Medal' for distinguished services.

Mr. A. K. Purwar is an eminent personality in the banking and finance industry and has held several senior positions including that of the Chairman of State Bank of India and held several important and critical positions in retail, corporate and international banking in his illustrious career. He also played a key role in co-coordinating the work for the Bank's entry into the field of insurance Mr. Purwar, with his innovative thinking and his passion transformed SBI into a world class Bank and has received numerous awards like 'CEO of the year' Award from the Institute for Technology & Management 'Outstanding Achiever of the year' Award from Indian Banks' Association and "Finance Man of the Year" Award by the Bombay Management Association. He is also an independent director on the board of India Infoline Ltd.

Welcoming both the eminent personalities on the Board of the Company, Mr. Nirmal Jain, Chairman & Managing Director, India Infoline Ltd and Director of India Infoline Investment Services Ltd said: "We are honored to have both the gentlemen on the Board of India Infoline Investment Services Ltd. and am sure their tremendous experience would bring in immense benefit to the opportunities and growth of the company in the future."

About India Infoline Ltd (Bloomberg: IIFL)

The India Infoline group, comprising the holding company, India Infoline Ltd (NSE: INDIAINFO, BSE: 532636) and its subsidiaries, is one of the leading players in the Indian financial services space. India Infoline offers advice and execution platform for the entire gamut of financial services covering products ranging from Equities and derivatives, Commodities, Wealth management, Asset management, Insurance, Fixed deposits, Loans, Investment Banking, GoI bonds and other small savings instruments. It owns and manages the website, www.indiainfoline.com, which is one of India's leading online destinations for personal finance, stock markets, economy and business.

India Infoline has been awarded the 'Best Broker, India' by FinanceAsia and the 'Most improved brokerage, India' in the AsiaMoney polls. India Infoline was also adjudged as ''Fastest Growing Equity Broking House - Large firms' by Dun & Bradstreet. A forerunner in the field of equity research, India Infoline's research is acknowledged by none other than Forbes as 'Best of the Web' and '.a must read for investors in Asia'. India Infoline's research is available not just over the Internet but also on international wire services like Bloomberg, Thomson First Call and Internet Securities where it is amongst one of the most read Indian brokers.

A network of 1,616 business locations spread over 445 cities and towns across India facilitates the smooth acquisition and servicing of a large customer base. All our offices are connected with the corporate office in Mumbai with cutting edge networking technology. The group caters to a customer base of about a million customers, over a variety of mediums viz. online, over the phone and at our branches.

India Infoline refers to India Infoline Ltd and its group companies.


CONTACT DETAILS
Ms. Tina Pawar, Investor Relations, India Infoline Limited, +91 (22) 40609001, +91 9987600088, tinap@indiainfoline.com
Mr. Tayyab Imadi, Index PR, +91 (22) 40425552, +91 9967212492, tayyab.imadi@indexpr.com

KEYWORDS
ECONOMY, PEOPLE, CONSULTANCY SERVICES, BANKING, BUSINESS SERVICES, Financial Analyst, STOCK EXCHANGES, INDIAINFO.BO, INDIAINFO.NS

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