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GVK Power & Infrastructure Ltd is likely to restructure its finance functions.
The rejig may follow the likely exit of a GVK veteran, Mr Isaac A. George, who may step down as the company's Chief Finance Officer and Non-Independent Director.
Mr George has been instrumental in driving the group's finances for nearly two decades. He had been handling vital finance related functions of the group, and has played a key role in making it a diversified business entity. Mr George has even taken the power and infrastructure subsidiary public and raised funds for various projects over the years. He was also key in firming up various term sheets for company projects and associated with its efforts at arranging finances and attracting private equity investments.
Sources close to the development said Mr George was certain to quit, and would do so formally during the company's next board meeting.
Business Line 's attempts to confirm this development with the company had not yielded results till the time of going to the press.
The GVK Group and the listed company have two airports – Mumbai and Bangalore, under their fold. Several power and road projects are handled through different business verticals. The company had last year made a major acquisition of coal mines in Australia and is in the process of finalising finances.
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