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Arcil names Phanindranath Kakarla chief executive and md
Kakarla succeeds Pallav Mohapatra in planned transition
MUMBAI: Asset Reconstruction Company (India) Limited (ARCIL) has appointed Phanindranath Kakarla as chief executive officer and managing director, effective 9 March, succeeding Pallav Mohapatra, who has stepped down after completing his term.
Arcil, founded in 2002, was India’s first asset reconstruction company and remains a key player in resolving stressed assets for banks and financial institutions.
Kakarla joined Arcil as president on 2 April, 2025 under a board-approved succession plan designed to ensure a smooth leadership transition. In that role he worked closely with the management team on strategy, business expansion and operational transformation.
Before joining Arcil, he held senior leadership roles at the Edelweiss Group, where he oversaw strategic functions including finance, operations, corporate services and business transformation.
“I am honoured to take on the responsibility of leading Arcil at an important stage in its journey,” said Kakarla. “Arcil has played a pioneering role in shaping India’s asset reconstruction industry and remains a strategic partner for banks and financial institutions.”
Mohapatra, who took charge in March 2021, leaves after guiding the company through a period of strategic consolidation. With more than four decades in India’s banking and financial services industry, he helped strengthen Arcil’s governance frameworks and sharpen its growth initiatives in the stressed-asset resolution space.
Welcoming the new chief, Arcil chairman Narayanan Subramaniam, said Kakarla’s experience in financial services and asset resolution would help steer the company into its next phase of growth. He also thanked Mohapatra for his leadership during what he described as a transformative period for the firm.
Arcil counts institutional investors including Avenue India Resurgence Pte Limited and State Bank of India among its shareholders and operates across multiple branches in India, focusing on corporate, SME and retail asset resolution.
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UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
