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Uday Kotak resigns as the Chairman of IL& FS

Uday Kotak has announced to step down as the Chairman of the board of the Infrastructure Leasing & Financial Services (IL&FS).

Sumit Arora Published On March 30th, 2022 Leave a comment

Uday Kotak has announced to step down as the Chairman of the board of the Infrastructure Leasing & Financial Services (IL&FS), after his term ends on April 2, 2022. CS Rajan, Managing Director, IL&FS has been appointed as Chairman and Managing Director for six months with effect from April 3 by the Ministry of Corporate Affairs.

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Crisis-hit Infrastructure Leasing & Financial Services Ltd (IL&FS) has resolved nearly 55% of the group’s outstanding debt over the last three-and-a-half years, managing director C.S. Rajan said on Tuesday. Among others, the company sold its iconic headquarters at Bandra Kurla Complex for ₹1,080 crore to reduce debt.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.