About Us

Management Team

Sadashiv Rao

Mr. Sadashiv S. Rao

Chief Executive Officer

Mr. Sadashiv S. Rao is the CEO of NIIF Infrastructure Finance Limited (NIIF IFL). He has over 34 years of experience in project finance, investment banking and advisory services. In his previous roles at IDFC, he held the positions of Chief Risk Officer, Chief Credit Officer, Senior Director - Corporate Finance, Head - Operations (North) and Vice President - Operations (Energy Sector).

Mr. Rao has been involved in evaluating, advising, structuring and raising monies for over 500 proposals through debt, equity and mezzanine finance. He was also a member of the committee constituted by the Government of India for setting up the Power Trading Corporation.

Prior to joining IDFC, Mr. Rao served Reliance Capital Ltd. as Head of the Investment Banking division. In his previous experience, he also held key positions with ICICI Ltd., Hindustan Petroleum Corporation Ltd. and Procter and Gamble.

Mr. Rao holds an MBA from the Indian Institute of Management, Bangalore and a B.Tech. degree from Indian Institute of Technology, Kanpur.

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Debabrata Mukherjee


Chief Business Officer

Debabrata joined the Company in August 2015. He is primarily responsible for business development, fund raising, overseeing the evaluation and delivery of investment and credit proposals and portfolio performance.

In a career spanning over 27 years in financial services, Debabrata has worked with leading Indian and global institutions across corporate and project finance, special situation investments, advisory services and investment banking. He has worked on all forms of capital - debt, mezzanine and equity and has been involved in evaluating, advising, structuring and funding of projects with capital outlay of over US$ 10 billion. In his previous role, Debabrata was a Senior Director in the project finance business of IDFC, where he led debt and structured investments across diverse sectors in the infrastructure domain including transport, social infrastructure, hospitality, industrial and commercial real estate. He also worked on special situation investments and corporate advisory transactions in IDFC, advising infrastructure developers in power, transport and telecom sectors on business plan and investment opportunities, bidding for PPP projects, risk mitigation and financial structuring. Prior to joining IDFC, Debabrata worked in the areas of corporate finance and investment banking and held key positions in ASK Raymond James, BNP Paribas and SBI Capital Markets. He led and managed transactions for several Indian business houses and multinational clients across a wide range of products spanning M&A, equity and debt capital markets and financial engineering. Debabrata holds a Post Graduate Diploma in Business Management from Indian Institute of Management, Bangalore and a Bachelor's degree in Mechanical Engineering from Jadavpur University, Kolkata.

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Dhananjay Yellurkar

Mr. Dhananjay Yellurkar

Chief Risk Officer

Dhananjay joined IDFC IFL in January 2016. He is primarily responsible for leading the credit risk function, developing and implementing IDFC IFL’s risk management framework, ensuring a sound risk awareness culture and monitoring the risk management activities in IDFC IFL, in order to build and safeguard a healthy portfolio of infrastructure project assets. He has nearly 31 years of experience in the financial services sector with leading institutions in India in the areas of risk management, project finance and advisory services.

Before moving into his current role, Dhananjay was Head – Risk and Asset Monitoring Group at L&T Infrastructure Finance Company Ltd. and was responsible for overseeing the risk function for the wholesale finance platform of L&T Financial Services. Prior to his 5 year stint with L&T Infrastructure Finance Company Ltd., Dhananjay held key positions in the areas of infrastructure advisory and corporate finance with CRISIL Risk & Infrastructure Solutions Limited, Ernst &Young and ICICI Ltd.

Dhananjay holds a Master in Business Administration degree from Northeastern University, Boston and a Bachelor's degree in Electronics & Communications Engineering from Karnatak University, Dharwad.

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Srinivas Upadhyayula

Mr. Srinivas Upadhyayula

Head - Legal & Compliance

Srinivas Upadhyayula is presently the Head Legal & Compliance of NIIF IFL Limited. Prior to this assignment Srinivas has worked as a Senior Director (Legal) in the Special Situations Management Group (SSMG) of IDFC Ltd. Srinivas has around 28 years of rich experience in legal, documentation of project & non-project finance, corporate finance and infrastructure finance documentation, including litigation management & recovery management in the Banking and Financial sector. He is having expertise in leading the delinquent accounts, recovery planning and in regular reviewing of the non-performing assets of the loan portfolio to identify trends and significant changes for effective recovery and financial restructuring and also structuring of the loans.

Prior to IDFC, Srinivas was working with Asset Reconstruction Company (India) Ltd (Arcil) (the first Asset Reconstruction Company established in India and is a prominent player in the Distressed Assets) as Senior Vice -president & Group Head - Legal.

Srinivas started his career as an Advocate on Civil and Labour side in the District Courts of Vizianagaram and Visakhapatnam. He then worked with Sterling Tree Magnum(India) Ltd (a Sterling group company), and as Law officer in Canara Bank & as DGM(Legal) IDBI Bank Ltd

He completed his Bachelor of Laws with specialisation in Company Law and Banking Law from Andhra University. He has also completed his CAIIB.
His interests include tracking the stock market & reading of various magazines and articles on litigation.

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Sanjay Ajgaonkar

Mr. Sanjay Ajgaonkar

Chief Financial Officer

Sanjay Ajgaonkar has over 25 years of experience in finance, accounting and compliance. Prior to joining IDFC IFL team, Sanjay was associated with IDFC Alternatives, Blue River Capital, HBL Global Pvt. Ltd. (a group company of HDFC Bank Limited), Infrastructure Leasing & Financial Services Limited (IL&FS) and Tata Finance Limited.

Sanjay is a Chartered Accountant, Cost Accountant and Company Secretary and holds a Bachelor's degree in Commerce from Mumbai University.

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