Government Extends Uday Kotak's Tenure As IL&FS Non-Executive Chairman
NDTV
The Centre has decided to extend the tenure of veteran banker Uday Kotak as the IL&FS Non-Executive Board Member and Chairman by six more months.
New Delhi: The government has decided to extend the tenure of veteran banker Uday Kotak as the IL&FS Non-Executive Board Member and Chairman by six more months. Mr Kotak will continue on the Board of Infrastructure Leasing and Financial Services Limited for a further period up to April 2, 2022, a notification issued by the Finance Ministry stated on Tuesday.
He is also the Managing Director and Chief Executive Officer of Kotak Mahindra Bank.
IL&FS was floated by government-controlled entities, including the Central Bank of India, Unit Trust of India and the Housing Development Finance Corp in the 1980s.
Mr Kotak was appointed by the Centre as the head of the IL&FS board which will helped it come out of difficulties. The government had superseded the old board.
