Mumbai: Asset Reconstruction Company (India) Limited (ARCIL), India’s first asset reconstruction company, has announced the appointment of Phanindranath Kakarla as its new Chief Executive Officer and Managing Director. His appointment came into effect on March 8, 2026, marking the beginning of a new leadership chapter for the company.
Kakarla succeeds Pallav Mohapatra, who has stepped down after successfully completing his tenure as CEO and MD under the company’s planned leadership succession strategy. The transition follows a structured succession plan designed by ARCIL’s Board to ensure continuity in leadership and business operations.
Established in 2002, ARCIL has played a pioneering role in India’s stressed asset resolution sector. Over the years, the company has become a trusted partner for banks and financial institutions by helping resolve non-performing assets (NPAs) and strengthening the country’s financial ecosystem.
Before taking over as CEO and MD, Kakarla served as President of ARCIL, where he worked closely with the senior leadership team on strategic initiatives, business expansion and operational transformation. He joined the company on April 2, 2025, as part of the Board-approved succession plan, allowing him to work alongside Mohapatra and ensure a seamless leadership transition.
Kakarla brings extensive experience in the acquisition and resolution of stressed assets. Prior to joining ARCIL, he held senior leadership positions at the Edelweiss Group, where he managed key functions including finance, operations, corporate services and business transformation. His broad industry expertise is expected to further strengthen ARCIL’s position in the evolving asset reconstruction landscape.
Expressing his thoughts on the new role, Phanindranath Kakarla said he was honoured to lead an institution that has been instrumental in shaping India’s asset reconstruction industry. He stated that ARCIL continues to be a strategic partner for banks and financial institutions and added that his priority would be to build on the company’s leadership while creating long-term value for all stakeholders.
Outgoing CEO Pallav Mohapatra leaves behind a significant legacy after leading ARCIL since March 2021. With more than four decades of experience in the Indian banking and financial services sector, he played a vital role in strengthening the company’s operational capabilities, improving governance standards and driving growth initiatives during a transformative period for the organisation.
Commenting on the appointment, Narayanan Subramaniam, Chairman of ARCIL, welcomed Kakarla to the top leadership position and expressed confidence in his ability to guide the company through its next phase of growth. He noted that Kakarla’s deep understanding of financial services and stressed asset resolution, combined with his leadership experience, makes him well-positioned to lead ARCIL’s future expansion and value creation efforts.
Subramaniam also acknowledged the contributions of Pallav Mohapatra, thanking him for his leadership and commitment during a crucial phase in ARCIL’s journey. With a carefully planned leadership transition now complete, ARCIL is set to continue its mission of delivering effective asset resolution solutions while strengthening its role in India’s financial sector.
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