Mumbai: Non-banking finance company Money Matters Financial Services Ltd (MMFSL) on Friday appointed P.H. Ravikumar as chairman and managing director (MD).

Ravikumar was managing director of asset reconstruction company Invent Assets Securitisation and Reconstruction Pvt. Ltd till December. His mandate is to restructure MMFSL, a company official said.

MMFSL was named in a multi-crore home loan bribery case in 2010 involving LIC Housing Finance Ltd. Since then, the company has stopped loan syndication but continues to be in project funding, corporate loans, equipment financing and structured debt financing.

On Friday, MMFSL shares ended at 105 apiece, down 5%, while the Sensex lost 1.62% to close at 18,242 points.

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