{"id":92545,"date":"2018-10-02T15:16:21","date_gmt":"2018-10-02T15:16:21","guid":{"rendered":"http:\/\/www.bnreport.com\/here-are-15-members-of-ilfs-board-that-were-sacked-by-govt\/"},"modified":"2018-10-02T15:16:21","modified_gmt":"2018-10-02T15:16:21","slug":"here-are-15-members-of-ilfs-board-that-were-sacked-by-govt","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/here-are-15-members-of-ilfs-board-that-were-sacked-by-govt\/","title":{"rendered":"Here are 15 members of IL&amp;FS board that were sacked by govt"},"content":{"rendered":"<p>ETMarkets.com|<\/p>\n<p>Oct 02, 2018, 07.38 PM IST<\/p>\n<figure><figcaption>The board was replaced with a new six-member panel headed by Uday Kotak.<\/figcaption><\/figure>\n<h2>PEER COMPANIES<\/h2>\n<h2>PEER COMPANIES<\/h2>\n<h2>PEER COMPANIES<\/h2>\n<p>NEW DELHI: The government on Monday dissolved the 15-member board of debt-ridden Infrastructure Leasing &amp; Financial Services (IL&amp;FS) in a move to revamp investor confidence scalded by the firms defaults and fears of a credit freeze. <\/p>\n<p>The board was replaced with a new six-member panel headed by Managing Director of Kotak Mahindra Bank <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/Uday-Kotak\" rel=\"noreferrer\" target=\"_blank\">Uday Kotak<\/a>. He will be joined by ICICI chairman GC Chaturvedi, former vice-chairman of Tech Mahindra <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/Vineet-Nayyar\" rel=\"noreferrer\" target=\"_blank\">Vineet Nayyar<\/a>, former Sebi chairman GN Bajpai and bureaucrats Malini Shankar and Nand Kishore. <\/p>\n<p>The central governments petition before the National Company Law Tribunal (NCLT) was accepted by the court on Monday afternoon and the new board will meet on or before October 8. The government argued that IL&amp;FS existing board be suspended after a series of defaults by the company led to meltdown of confidence in financial markets. Shares of non-banking financial services companies fell sharply in September on worries that the contagion from IL&amp;FS will spread to the rest of the banking sector, EconomicTimes reported. <\/p>\n<p><em>Heres is a list of 15 members that were sacked by the government:<br \/><\/em> <\/p>\n<ol>\n<li><strong>Sunil Behari Mathur<\/strong> \u2013 Non-Executive Chairman, IL&amp;FS (Independent Director)<\/li>\n<li><strong>Hari Sankaran<\/strong> \u2013 Vice Chairman &amp; Managing Director, IL&amp;FS<\/li>\n<li><strong>Arun K Saha<\/strong> \u2013 Joint Managing Director &amp; CEO, IL&amp;FS<\/li>\n<li><strong>Praveen Kumar Molri <\/strong>\u2013 Nominee Director, Life Insurance Corporation Of India<\/li>\n<li><strong>Kiyoshi Fushitani <\/strong>\u2013 Nominee Director, Orix Corporation, Japan<\/li>\n<li><strong>Harukazu Yamaguchi <\/strong>\u2013 Nominee Director, Orix Corporation, Japan<\/li>\n<li><strong>Sanjeev Doshi<\/strong> \u2013 Nominee Director, <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/Abu-Dhabi-Investment-Authority\" rel=\"noreferrer\" target=\"_blank\">Abu Dhabi Investment Authority<\/a> (AIDA)<\/li>\n<li><strong>Bijendra Kumar Singhal<\/strong> \u2013 Nominee Director, Central Bank Of India<\/li>\n<li><strong>Chalasani Venkat Nageswar<\/strong> \u2013 Nominee Director, State Bank Of India<\/li>\n<li><strong>Ravindra Chandra Bhargava <\/strong>\u2013 Independent Director<\/li>\n<li><strong>Michael Pinto<\/strong> \u2013 Independent Director<\/li>\n<li><strong>Jaithirth Rao <\/strong>\u2013 Independent Director<\/li>\n<li><strong>Rina Kamath<\/strong> \u2013 Independent Director<\/li>\n<li><strong>Kiyokazu Ishinabe<\/strong> \u2013 <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/Alternate-Director\" rel=\"noreferrer\" target=\"_blank\">Alternate Director<\/a> To K Fushitani<\/li>\n<li><strong>Ikuo Nakamura<\/strong> \u2013 Alternate Director To H Yamaguchi<\/li>\n<\/ol>\n<p>  Read more on<\/p>\n<p>Commenting feature is disabled in your country\/region.<\/p>\n<h2>From  Around The Web<\/h2>\n<h2>More from The Economic Times<\/h2>\n<p><strong><a href=\"https:\/\/blockads.fivefilters.org\/\" rel=\"noreferrer\" target=\"_blank\"><\/a><\/strong> <a href=\"https:\/\/blockads.fivefilters.org\/acceptable.html\" rel=\"noreferrer\" target=\"_blank\"><\/a><\/p>\n<p><a href=\"https:\/\/economictimes.indiatimes.com\/markets\/stocks\/news\/here-are-15-members-of-ilfs-board-that-were-sacked-by-govt\/articleshow\/66042966.cms\" rel=\"noreferrer\" target=\"_blank\">Original Article<\/a><\/p>\n<p>[contf]<br \/>\n[contfnew]<br \/>\n        <img decoding=\"async\" src=\"https:\/\/img.etimg.com\/photo\/60278104.cms\"\/><\/p>\n<h5><a href=\"https:\/\/economictimes.indiatimes.com\/\" rel=\"noreferrer\" target=\"_blank\">ET Markets<\/a><\/h5>\n<p>[contfnewc]<br \/>\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ETMarkets.com|<\/p>\n<p>Oct 02, 2018, 07.38 PM IST<\/p>\n<p>The board was re..<\/p>\n","protected":false},"author":1,"featured_media":92546,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-92545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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