Retired IAS officer CS Rajan named Managing Director of IL&FS

Cash-strapped IL&FS has announced the appointment of CS Rajan, who is a Director on the IL&FS board, as the group's Managing Director. He has taken over the position from Vineet Nayyar, who continues to serve as the group's Executive Vice Chairman. Rajan is an IAS officer of the 1978 batch who retired as Rajasthan Chief Secretary in 2016.