IL&FS Transportation CEO Dilip Bhatia Resigns

IL&FS Transportation Networks Ltd. (ITNL) said its Chief Executive Officer Dilip Bhatia resigned due to professional reasons.

Bhatia tendered his resignation from the post of CEO and key managerial personnel with effect from today (21 September), IL&FS Transportation said in a stock exchange announcement.

“My stint as CEO at ITNL has been challenging, but an enriching and fulfilling experience, offering me phenomenal learning opportunities each single day,” Bhatia said in his resignation letter.

The company didn’t provide the details about his successor.

ITNL was formed in 2000 as a wholly owned subsidiary of Infrastructure Leasing and Financial Services Ltd. (IL&FS), which has been a major player in India in infrastructure development and financing for the last 25 years, according to its website.

The Indian government, through Ministry of Corporate Affairs, took management control of IL&FS Group and appointed a new board in October 2018 in an effort to control defaults and restore confidence and financial stability in capital markets.

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