New Delhi. The government reshuffled the board of directors of IL&FS Limited and re-nominated existing board member CS Rajan as non-executive chairman. According to the company, Nand Kishore, working as Executive Director, has been made Managing Director. Both the appointments are with immediate effect till March 2023.
The board of IL&FS was sacked by the Ministry of Commercial Affairs in October 2018 after the financial mismanagement was exposed. Earlier, the non-executive chairman of the board of IL&FS Limited was renowned banker Uday Kotak. His term ended on April 2 this year. Since then, Rajan was serving as the Chairman and Managing Director of the company.
“We have been informed about these changes by the Ministry of Commercial Affairs,” an IL&FS spokesperson said on Tuesday. At present there are five members on the board. Apart from Rajan and Kishor, directors- G C Chaturvedi, Malini Shankar and N Srinivasan are on the board. (Language)
