G.N. Bajpai quits IL&FS board
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.