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The Government has asked Harsh Kumar Bhanwala, Executive Director of India Infrastructure Finance Company Ltd (IIFCL), to hold charge of the Chairman and Managing Director’s post for now.
This follows S.K. Goel, the incumbent CMD, demitting office after the end of his three-year term with IIFCL.
Goel has been relieved and Bhanwala will hold charge as CMD, sources close to the development said.
Bhanwala will hold charge of the CMD’s post until a new appointment is made by the Centre.
Goel’s contract allowed for an extension of two more years till 2015. But the Government decided against granting any extension, it is learnt.
Deepak Bagla, a partner with private equity group 3i, is tipped to be the next head of IIFCL.
As many as 35 candidates had appeared for interviews, including the outgoing CMD S.K. Goel.
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