Infrastructure Leasing and Financial Services (IL&FS) on Sunday said the Ministry of Corporate Affairs has approved the appointment of Nand Kishore as the group's executive director. Till now, Kishore was serving on the IL&FS board as non-executive director, the company said in a release.
Based on the recommendation of the Nomination and Remuneration Committee, the IL&FS board in its meeting held on December 19, 2020, approved the appointment of Nand Kishore as executive director of the company with effect from December 21, 2020, the release said. In October 2018, the government had seized control of the IL&FS group and superseded its board with one led by veteran banker Uday Kotak.
The group further said the tenure of Bijay Kumar, who was deputy managing director, has come to an end on December 20, 2020. Kumar has decided not to seek extension of his tenure, it said.