The new board of IL&FS has appointed CS Rajan as Managing Director of the ailing company to oversee the ongoing asset monetisation process. Rajan will be part of an operating committee, which will report to the board. N Sivaraman has been appointed Chief Operating Officer and Vineet Nayyar Executive Vice-Chairman
Uday Kotak, the Non-Executive Chairman of IL&FS, said the new commitee will oversee the functioning of the company and ensure that the asset sale progresses smoothly.
Giving out the progress made so far, Kotak said a solid team is managing the entire resolution process of IL&FS. In addition to whole-time board members, an operating committee has also been created