CURRENT AFFAIRS

Detailed explanation-1: -C S Rajan, the former CMD, will now be the non-executive chairman. The changes come six months after Uday Kotak, who was originally appointed by the government to oversee the resolution, stepped down from the board. With the group’s resolution not complete, the government may appoint new members to the board.

Detailed explanation-2: -Dileep Vishwakarma. CS Rajan The term of Uday Kotak, who was appointed as chairman of crisis-hit Infrastructure Leasing and Finance Ltd (IL&FS) is ending this week and the Union government has appointed CS Rajan, who is managing director (MD), as the new chairman for six months.

Detailed explanation-3: -Non-Executive Chairman Mr. CHANDRA SHEKHAR RAJAN, Non-Executive Chairman of the Company, is an IAS Officer of the 1978 Batch, who retired as Chief Secretary, Rajasthan, on June 30, 2016. He then served as Deputy Chairman, Chief Minister’s Advisory Council till December 2018.

Detailed explanation-4: -IL&FS resolves debt of Rs 56,943 crore, reduces number of entities to 101. The debt-ridden firm informed about the progress made in the ongoing resolution process till September 30, 2022 in an affidavit filed before the National Company Law Appellate Tribunal (NCLAT).