Indiabulls Housing Finance Revamps Top Management

Indiabulls Housing Finance, the third-largest housing mortgage lender in India, is preparing for a management revamp. According to the plan, founder Sameer Gehlaut may step down as chairman. He took charge as CEO and whole-time director of Indiabulls Ventures — a sister company — on June 25. “Since he cannot hold executive positions in two firms at the same time, Gehlaut has decided to step down from Indiabulls Housing,” said a senior management representative privy to the development. Independent director S S Mundra could be elevated.