G.N. Ba­j­pai quits IL&FS board

Banking Frontiers - - People Track -

G.N.Ba­j­pai, one of the 7 di­rec­tors of the govern­ment nom­i­nated board at the debt-laden In­fras­truc­ture Leas­ing and Fi­nan­cial Ser­vices Ltd (IL&FS), has stepped down. He has cited per­sonal rea­sons. Ba­j­pai said he can­not de­vote enough time to IL&FS and has de­cided to step down. Ba­j­pai’s de­ci­sion came a day af­ter the newly con­sti­tuted board of IL&FS sub­mit­ted its ten­ta­tive re­vival plan to the Na­tional Com­pany Law Tri­bunal (NCLT). The ex­ist­ing mem­bers of the board, chaired by Uday Ko­tak, MD and CEO of Ko­tak Mahin­dra Bank, in­cludes G.C. Chaturvedi, chair­man, ICICI Bank, for­mer bu­reau­crats Malini Shankar, Vi­neet Nay­yar, Nand Kishore and C.S. Ra­jan.

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