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IL&FS Transportation appoints Shaivali Parekh as CFO

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IL&FS Transportation Networks, part of the troubled IL&FS Group, on Thursday announced the appointment of Shaivali Parekh as its Chief Financial Officer.

IL&FS Transportation appoints Shaivali Parekh as CFO
IL&FS Transportation Networks, part of the troubled IL&FS Group, on Thursday announced the appointment of Shaivali Parekh as its Chief Financial Officer. The decision on the same was taken during the board meeting, the company said in a regulatory filing.
"The meeting of the Board of Directors held today. The board has appointed Shaivali Parekh as Chief Financial Officer (CFO)...effective December 13, 2018," the filing said.
IL&FS Transportation Networks had last month cited NCLT insolvency proceeding as the reason for delay in filing September quarter financial results with the stock exchanges and had said it will declare quarterly numbers at the earliest.
As per the listing norms of the BSE and NSE, companies are required to file the results on a quarterly basis within 45 days from the end of the quarter.
The Mumbai bench of the NCLT had on October 1 suspended the board of IL&FS on government's plea and had authorised reconstitution of the board by appointing seven directors two days later.

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