Categories: Appointments

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), 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

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.