 "IL&FS")
Infrastructure Leasing and Financial Services' (IL&FS') new board on Friday appointed nominee directors on various subsidiaries of the infra lending and engineering conglomerate.
Further, it initiated austerity measures related to personnel and operating expenses in the company.
The new board also approved the formation of a core operating committee under former vice-chairman of Tech Mahindra, Vineet Nayyar.
The newly-constituted board, headed by veteran banker and MD & CEO of Kotak Mahindra Bank, Uday Kotak, met for the second time on Friday to decide on the further course of action for the cash-crunched
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