IL&FS Appoints Nand Kishore as New Chairman and Managing Director

Nand Kishore has been appointed as the new Chairman and Managing Director of IL&FS Group, effective October 1. Kishore replaces former Chairman CS Rajan, who played a key role in resolving the company’s financial crisis. Kishore, a 1981 batch officer, has been with IL&FS since 2018. Under Rajan, the company achieved significant progress in debt resolution.

Nand Kishore has been appointed as the new Chairman and Managing Director of IL&FS Group, effective October 1, the company announced on Monday.

Kishore, currently the Managing Director, takes over from CS Rajan, whose term ended on September 30, 2024. Rajan was instrumental in resolving one of India's major corporate financial crises during his six-year tenure.

Kishore brings extensive experience to the role, having served in various capacities within IL&FS since 2018. The company has resolved approximately Rs 55,000 crores of debt under Rajan's leadership. IL&FS, a core investment company, manages diversified businesses across sectors, both in India and overseas.

(With inputs from agencies.)