IRFC Appoints Ranjay Choudhary as Director (Finance) and Deepa Kotnis as CFO
IRFC appointed Shri Ranjay Choudhary as Director (Finance) for five years and Ms. Deepa Kotnis as CFO, both effective June 30, 2026. Choudhary brings over 29 years of finance experience, while Kotnis has over 27 years in public finance and infrastructure funding. Randhir Sahay will relinquish additional charge.
The appointment of a Director (Finance) and CFO is significant for the company's financial governance and strategic direction, impacting its operations and investor confidence.
The appointment of key management personnel like Director (Finance) and CFO is generally viewed positively as it brings experienced leadership to the company's financial operations.
Indian Railway Finance Corporation Limited (IRFC) announced key management changes following a Board of Directors meeting held on June 30, 2026. The Board has co-opted Shri Ranjay Choudhary as an Additional Director, designated as Director (Finance), for a period of five years, effective from June 30, 2026. This appointment is based on an order from the Ministry of Railways, Government of India.
Shri Choudhary, a seasoned finance professional with over 29 years of experience in finance and accounts, loan appraisal, and corporate financial raising, holds a PhD in Finance. He previously served as Chief General Manager at Power Finance Corporation Limited (PFC). Upon his assumption of charge, Shri Randhir Sahay will cease to hold the additional charge of Director (Finance) and the office of Chief Financial Officer (CFO).
Additionally, the Board approved the appointment of Ms. Deepa Kotnis as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company, also effective from June 30, 2026. Ms. Kotnis, an Indian Railway Accounts Service (IRAS) officer with over 27 years of experience in public finance, infrastructure funding, and financial management, currently serves as Executive Director (Finance) at IRFC. She has held significant roles in various government entities and has expertise in financial planning, capital raising, and infrastructure finance.
Both Shri Choudhary and Ms. Kotnis have confirmed they are not debarred from holding the office of Director by any SEBI order or other authority, and they are not related to any existing Director or Key Managerial Personnel of the Company. Shri Choudhary holds 50 shares of IRFC, while Ms. Kotnis holds 1000 shares.
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Indian Railway Finance Corporation Limited filed this with the NSE as a statutory disclosure, categorised under key management changes. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Indian Railway Finance Corporation Limited. Read the original for the full detail.