CURRENT AFFAIRS

Detailed explanation-1: -Mr. NAND KISHORE, Managing Director of the Company, is a 1981 batch officer of Indian Audit and Account Service. He retired as Deputy Comptroller and Auditor General (Dy. CAG) in the rank and pay of Secretary to Government of India.

Detailed explanation-2: -The ministry of corporate affairs (MCA) appointed Nand Kishore as managing director (MD) of crisis-hit Infrastructure Leasing and Finance Ltd (IL&FS), while incumbent MD CS Rajan has been made non-executive chairman.

Detailed explanation-3: -IL&FS was promoted by the Central Bank of India (CBI), Housing Development Finance Corporation Limited (HDFC) and Unit Trust of India (UTI).

Detailed explanation-4: -Ravi Parthasarathy, the man who built Infrastructure Leasing & Financial Services (IL&FS) into a gigantic hydra-headed conglomerate passed away today after suffering from cancer for several years.