IL&FS COO N Sivaraman decides to quit

MUMBAI: After leading the asset monetisation efforts of cash-strapped Infrastructure Leasing and Financial Services (IL&FS) for almost one-and-a-half years, N Sivaraman has decided to part ways with the group, a source said. L&T Group veteran, Sivaraman was appointed as the group’s chief operating officer (COO) in November 2018. He was also heading the infrastructure investment trusts (InvIT) programme.

His last day at the group will be July 31, 2020, the source said.

Post his decision, the Uday Kotak-led board has decided to rejig the portfolio of the top management, aimed at expediting the resolution process.

The asset monetisation and InvIT programmes would now be handled by three senior executives Ashwani Kumar, currently heading the energy vertical; Dilip Bhatia the CEO of IL&FS Transportation Networks Limited (ITNL);