Complex sentence: Deshmukh was a member of a five-member delegation representing India at the Bretton Woods Conference that established the International Monetary Fund (IMF) and International Bank for Reconstruction and Development (IBRD).
Split into simpler sentences: Deshmukh was a member of a five-member delegation that represented India at the Bretton Woods Conference. The conference led to the establishment of the International Monetary Fund (IMF) and International Bank for Reconstruction and Development (IBRD).