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

‘IL&FS directors facilitated round-tripping’

‘IL&FS directors facilitated round-tripping’

In a damning report, Grant Thornton has highlighted how IL&FS’ committee of directors facilitated round-tripping and ever-greening of loans and also provided credit to stressed companies despite their financial problems being published in the media.

New IL&FS Board pushes for asset-level resolution

New IL&FS Board pushes for asset-level resolution

The crisis in the debt-ridden Infrastructure Leasing and Financial Services (IL&FS) is set to be addressed by undertaking asset-level sale process first before putting in place a plan for a single group-level or vertical-level resolution, sources said.

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