The Debt-laden Infrastructure Leasing & Financial Services (IL&FS) on Wednesday announced the appointment of retired Indian Administrative Service official Bijay Kumar as its deputy managing director. The company has also appointed N Srinivasan as a non-executive director of the company. According to the company’s regulatory filing, the decision about their appointments took place during the board…
IL&FS Investment Managers, part of the debt-laden IL&FS group, on Thursday announced that its board has appointed Nand Kishore and Kaushik Modak as additional directors in the company. Kishore and Modak have been appointed to the board in the capacity of nominee directors of Infrastructure Leasing & Financial Service. “The board of directors of the company…
The Indian government has taken the control of the debt-ridden Infrastructure Leasing & Financial Services (IL&FS). As a start, the government filed an application with the National Company Law Tribunal (NCLT) to dismiss the current board of IL&FS. The government thought it would be detrimental to run the firm with its current directors. The petition filed was…
Infrastructure Leasing & Financial Services Limited’s financial services unit MD & CEO Ramesh C Bawa quits as the parent company struggles to deal with debts. This resignation came just hours after the parent company IF&LS on Friday informed lenders that it is unable to repay the debt of Rs 250 crore. Along with Ramesh C Bawa,…