Phanindranath Kakarla Takes Charge as CEO & MD

MUMBAI — Asset Reconstruction Company (India) Limited (ARCIL), India’s oldest asset reconstruction firm, has announced the appointment of Phanindranath Kakarla as its new Chief Executive Officer and Managing Director, effective March 9, 2026.

Kakarla succeeds Pallav Mohapatra, who steps down following the successful completion of his term. The transition is part of a year-long succession plan orchestrated by the ARCIL Board to ensure continuity in the company’s distressed asset resolution strategies.

A Seamless Transition

Kakarla is no stranger to the organization, having joined ARCIL in April 2025 as President. Over the past year, he has worked closely with Mohapatra to oversee high-value acquisitions and resolution frameworks. His previous experience includes a senior leadership tenure at the Edelweiss Group, where he specialized in the financial services and asset reconstruction space.

“I am honoured to lead ARCIL at this important stage,” Kakarla stated. “My focus will be to build on our leadership position and deliver long-term value for banks and financial institutions.”

The Mohapatra Legacy

Outgoing CEO Pallav Mohapatra, who took the helm in March 2021, leaves behind a reinforced institutional structure. During his four-year term, he was credited with:

• Strengthening Governance: Enhancing the transparency of asset pricing and resolution.

• Operational Scaling: Advancing ARCIL’s growth initiatives within a more competitive market.

• Banking Expertise: Leveraging over four decades of experience in the Indian banking sector to position ARCIL as a preferred partner for stressed asset management.

Strategic Outlook

Narayanan Subramaniam, Chairman of ARCIL, expressed confidence in the new leadership, noting Kakarla’s “deep understanding of financial services.” As the Indian banking sector continues to offload non-performing assets (NPAs) to clean up balance sheets, Kakarla’s expertise in acquisition and resolution will be vital for ARCIL’s next phase of value creation.

Executive Transition Summary