IL&FS mess: From Uday Kotak to Malini Shankar, meet the new board members

Recently Uday Kotak was in the news for heading a 21-member committee, constituted by Sebi, on corporate governance.

Uday Kotak 

Managing Director and CEO of Kotak Mahindra Bank. His non-banking finance company, Kotak Mahindra Finance Ltd, was India’s first company to receive a banking license from the Reserve Bank of India. In 2014 Kotak Mahindra Bank acquired ING Vysya Bank under the leadership of Uday Kotak. He was featured in the 2016 list of ‘Money Masters: The Most Powerful people in The Financial World’ by Forbes magazine. Recently he was in the news for heading a 21-member committee, constituted by the Securities Exchange Board of India (Sebi), on corporate governance. The panel offered critical recommendation on separation of the roles of a chairman and a managing director, and said at least half of the board members of listed companies should be independent directors.  

Ghyanendra Nath Bajpai 

Former chairman of Sebi and former chairman of the Life Insurance Corporation of India (LIC). Bajpai was also the chairman of the Corporate Governance Task Force of International Organization of Securities Commissions, Insurance Institute of India and served on the governing boards of Indian Institute of Management, Lucknow and National Insurance Academy. 

Malini Shankar 

Currently the Director General of Shipping, and is an Indian Administrative Service (IAS) officer of the Maharashtra cadre. She attained her doctoral degree in public policy from IIT-Madras. In her three decades of experience in the field and the policy space, she is known for her work in the water sector, and for introducing technology and modern management systems and practices in her assignments. 

Vineet Nayyar

Executive Vice-Chairman of Tech Mahindra. He played a crucial role in integrating scam-hit Satyam with Tech Mahindra and his experience can come handy in handling IL&FS case. Nayyar was also an IAS officer, serving in various senior positions, including as Director, Department of Economic Affairs, founding Chairman and Managing Director of state-owned GAIL (India) Ltd. Nayyar had also worked with the World Bank for over 10 years, and was the 

Chief for the Energy, Infrastructure and the Finance Divisions for East Asia and Pacific. 

Girish Chandra Chaturvedi 

Non-executive chairman of ICICI Bank Ltd. An IAS officer, he retired in January 2013 as the Secretary of Ministry of Petroleum and Natural Gas. Chaturvedi served in the Government of India at various levels across a number of sectors, including banking, insurance, pension, health, family welfare and petroleum and natural gas. He was the Chairman of Pension Fund Regulatory & Development Authority (PFRDA). He was also on the board of various public sector bank, as well as infrastructure lender IDFC Ltd. 

Nand Kishore

He was a senior bureaucrat and former Deputy Comptroller and Auditor General (CAG). He joined the Indian Audit and Account Service in 1981.