In a top management rejig at Ajay Piramal-owned Piramal Enterprises’ structured investment group, Parvez Umrigar has resigned from his position as co-head of the investment arm that provides mezzanine funding to corporates in various sectors, including infrastructure. Umrigar, a former director with Gammon India, had joined Piramal in 2014.
According to sources, Shantanu Yeshwant Nalavadi, former partner with private equity firm New Silk Route, joined the structured investment group earlier this week. He is said to be replacing Umrigar. A qualified chartered accountant from Institute of Chartered Accountants of India, Nalavadi joined New Silk Route in April 2007. He served as a non executive nominee director of Ortel Communications from February 2008 to March 2015. He was also responsible for Ortel’s IPO earlier, according to publicly available information. In his prior assignments, Nalavadi was responsible for Walt Disney’s India strategy and business development as well as initiatives for across its businesses of media network, studio, parks and entertainment, retail and consumer products. He was instrumental in Disney’s acquisition of Hungama TV.
