Ministry of Corporate Affairs nominates two directors on board of IL&FS

The Ministry of Corporate Affairs (MCA) has nominated two directors -- G Mahalingam and Deepak Mohanty -- on the board of IL&FS.

The appointment of these two directors has been approved by both the MCA and National Company Law Tribunal.

When contacted, IL&FS confirmed their induction on the board effective October 15, 2022.

Both Mahalingam and Mohanty are former executive directors in the Reserve Bank of India.

With this induction, the existing board of IL&FS now comprises 6 members with C S Rajan as non-executive chairman.