Your Name
V Satya Venkatarao
Name of the Organisation
IFCI Limited
IFCI Tower, 61 Nehru Place, New Delhi -1100019
Job Title
Executive Director
Application Process
Initial appointment through Competitive Process and later promotions
Duration of your Work Experience
23-09-1998 to 04-06-2020
Onboarding Process
No induction programmes in the Late 1990s. It is straightway learning by doing and performing
Main Tasks and Responsibilities
Legal Advisory, Documentation, Litigation and other allied functions
Work Culture and Work-Life Balance
At times long working hours becomes inevitable. Professionally the focus is on delivering things efficiently, and in a timely manner. By and large no imbalances experienced in this space
Good Things
The organisation has afforded me the opportunity to grow as a professional, and I can say with humility that I was selected to a Board-Level Position in an All India Financial institution.
Bad Things
Not many. However, transparency and openness were lacking at times
Exit Process
Smooth and efficient.
Details About the Accommodation, Commuting to the Office
The Company all through has provided residential accommodation commensurate with the post held. In addition to the accommodation, the Company has also facilitated furnishing the accommodation
Commuting: Necessary Fuel Allowance was provided as per the post held.
Lessons Learned
Several key lessons learnt. Major of them are
- Successful handling of Litigation matters under diverse Acts, with special emphasis on recovering nonperforming assets as per the available legal framework.
- Drafting of key contracts in the areas of financing various projects in diverse sectors.
- Successfully handled the change of management of a Listed company by following the provisions of the Companies Act.
- Effectively strategised litigation matters in key Human resource functions like Appointments, Voluntary Retirements, promotions, Terminations etc
- Performed the functions of a disciplinary Authority in service matters of employees
- Passed orders in the capacity of Central Public Information Officer,under the RTI Act and First appellate Authority under the RTI Act.
- Declaration of wilful defaulters and non cooperative borrowers by adhering to regulatory guidelines Interpersonal skills.
- Motivated the younger work force constantly by leading by example and involved in upgrading their skills and knowledge
- Attended several training programmes within and outside the country,
- Communications in a transparent and lucid manner is another key learning.
One very critical experience I would like to highlight.
There was a stalemate on the disposal of a property on which the lenders had paripassu charge, This stale mate amongst the lenders was being very tactfully exploited by the borrower. The Head of the Organisation had called me for a discussion in a late evening conversation and sought my suggestions for breaking the stalemate.
Realising the reasons for the stalemate, I promised that i will one up with a plausible solution the very next day.
The next day, I suggested the solution, which the chief executive accepted. He then gave me a free hand to resolve the issue. The resolution did happen, leading to a recovery of hundreds of Crores to the Organisation and other lenders. This particular episode remains etched in my mind forever as it was all about confidence reposed, transparent communication, and collaborative effort.
Anything Else You Want to Share?
One of the important thing to share with the friends in the legal fraternity in the Corporate sector is to grow strong as a legal professional, traits of being open top learning both from seniors and Juniors and peers is very essential . There are several other areas of learning which young lawyers needs to pay attention to in the course of their career progression.
Source: Lawctopus
