IL&FS reshuffles Board, CS Rajan appointed MD


IL&FS reshuffles Board, CS Rajan appointed MD

The board of Infrastructure Leasing & Financial Services Ltd (IL&FS) has redesignated Vineet Nayyar as its executive vice-chairman and appointed CS Rajan as managing director, six months after the new board was appointed by the government under an order from the National Company Law Tribunal. Rajan, a former bureaucrat, was already on the board. It also appointed Bijay Kumar as deputy managing director.

The reshuffle could indicate the long haul it might be for the resolution process. While the board did not give specific timelines for the resolution process to be completed, a presentation showed that much of the untangling of the complicated structure is over, and an assessment of assets and liabilities is closer.   Read More

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