DB Realty has appointed Vipul Bansal as Chief Executive Officer with immediate effect. The new CEO will oversee real estate and hospitality verticals of DB Group, the company said in a release.
This is the first time DB Realty has appointed a CEO. Prior to joining D B Realty, Vipul Bansal was the Joint Managing Director & CEO at Indiabulls Real Estate.
In April, DB Realty’s Group Director N Shridhar who was handling Strategy and Finance and was also in-charge of the company when its promoters Shahid Balwa and Vinod Goenka were in jail for their alleged involvement in the 2G scam, had put in his papers.
In July, Bansal relinquished his charge as the Joint Managing Director of Indiabulls Real Estate. He had also resigned from the directorship of Indiabulls.
While announcing Bansal’s resignation, Indiabulls Real Estate had also said that he shall be moving to Indiabulls Properties Investment Trust Singapore. Narendra Gehlaut, the other Joint Managing Director of Indiabulls Real Estate was then re-designated as Managing Director to look after the entire operations of the company.
