The board of IL&FS Group has announced the resignation of Vineet Nayyar as the executive vice chairman of IL&FS Group.
“The board, in its meeting held on Monday, accepted Mr. Nayyar’s resignation with effect from October 31, 2020, and granted him leave till then, on medical grounds,” IL&FS Group said in a statement.
In the interim, C.S. Rajan, MD, IL&FS, has been asked to discharge Mr. Nayyar’s responsibilities and, in consultation with senior management, put in place a revised organisational structure. Mr. Nayyar was appointed on October 4, 2018 in the first meeting held by the new board immediately after its constitution by the Ministry of Corporate Affairs.
