IL&FS Board Replaces Nominee Directors on Various Subsidiaries
Moneylife Digital Team 12 October 2018
The new board of Infrastructure Leasing & Financial Services (IL&FS) headed by Uday Kotak has started replacing nominee directors on various subsidiaries of the conglomerate
 
In a statement, IL&FS says, "...the board approved formation of a core operating committee under Vineet Nayyar and have also initiated austerity measures related to personnel and operating expense."
 
"Pursuant to the recommendations of the audit committee, the board required a full audit of standalone and consolidated accounts as on 30 September 2018," it added. 
 
The new board has nominated Vineet Nayyar, Nand Kishore and Malini Shankar on the board of IL&FS Financial Services Ltd (IFIN).
 
Mr Nayyer and CS Rajan are nominated on board of IL&FS Transportation Networks Ltd (ITNL), while Nand Kishore is nominated on board of IL&FS Environmental Infrastructure & Services Ltd (IEISL). 
 
GC Chaturvedi and Mr Nayyar are nominee members of the board at IL&FS Energy Development Co Ltd. Mr Rajan is nomited for the board of IL&FS Engineering & Construction Co Ltd (IECCL), Mr Nayyer on IL&FS Education and Technology Services Ltd (IETS), Mr Kishore at IL&FS Technologies Ltd (ITL), and Dr Malini Shankar will be nominee director on the board of Tamil Nadu Water Investment Co Ltd (TWIC).
Comments
Free Helpline
Legal Credit
Feedback