Vineet Nayyar resigns from IL&FS board on medical grounds

In the interim, C S Rajan, MD, IL&FS, has been asked to discharge Nayyar’s responsibilities and, in consultation with senior management, put in place a revised organizational structure. Nayyar was appointed the Executive Vice Chairman in 2018 and ...

MUMBAI: The board of IL&FS Group on Monday announced the resignation of Vineet Nayyar as the Executive Vice Chairman. Nayyar, has requested the board to relieve him of his duties as Executive Vice Chairman of IL&FS with effect from October 31, 2020, on grounds of indifferent health, the company said in a statement.

In the interim, C S Rajan, MD, IL&FS, has been asked to discharge Nayyar’s responsibilities and, in consultation with senior management, put in place a revised organizational structure.

Nayyar was appointed the Executive Vice Chairman in 2018 and has been leading the IL&FS resolution, involving over 300 companies, for the last two years with the new board.


“Vineet brought with him unique insights and conviction with respect to our challenges over the last two years. I wish him speedy recovery.” said Uday Kotak, non-executive Chairman, IL&FS.

“Nayyar’s vast experience in Corporate resolution with Satyam and his sharp understanding of Government functioning has provided the new Board with immense learnings at every stage of the complex IL&FS resolution process.”
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