The Hindu Business Line : Nikhil Nanda back on Escorts board

ESCORTS Ltd on Monday said that it has appointed Mr Nikhil Nanda as whole-time director to be designated as Executive Director and Chief Operating Officer (COO).

The board of directors of the company, at a meeting on Monday, approved the appointment of Mr Nikhil Nanda as whole-time director of the company, it informed the BSE.

In September, Mr Nanda had resigned from the board and was appointed as group COO as part of a major restructuring process.

In fact, at that time a number of directors had resigned from the Escorts board as the company had defaulted on repayment of debentures.

Escorts recently sold its holding in Escorts Heart Institute and Research Centre (EHIRC) for a consideration of Rs 585 crore, after which it has put into action a debt restructuring plan.

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Nikhil Nanda back on Escorts board