Retired Indian Administrative Service (IAS) officer Nagaraju Maddirala has been officially designated as the Chairman and Managing Director (CMD) of Infrastructure Leasing & Financial Services (IL&FS). His appointment, confirmed by the Ministry of Corporate Affairs in an order dated October 12, 2026, and announced on October 13, 2026, will be for a two-year period commencing from his assumption of charge.
Leadership Transition at IL&FS
Maddirala, a distinguished 1993-batch IAS officer, steps into the top leadership role following the conclusion of Nand Kishore's tenure as IL&FS chairman and managing director on September 30, 2026. Prior to this designation, Maddirala was appointed as a director on the IL&FS board through an order issued by the Mumbai bench of the National Company Law Tribunal on October 1, 2026.
The Ministry of Corporate Affairs subsequently moved to designate him as the Chairman and Managing Director, formalizing his new responsibilities.
Terms of Appointment and Ongoing Resolution
Under the terms outlined by the ministry, Maddirala will receive a monthly remuneration of Rs 5.5 lakh, in addition to a company car and company-leased accommodation. The Ministry has also directed IL&FS to complete all necessary procedural formalities to implement the order, which was issued with the approval of the competent authority.
This significant appointment comes as IL&FS continues its complex resolution and asset monetisation process, aimed at addressing the financial challenges faced by the infrastructure financier. The order was signed by Sunidhi Misra, deputy director in the ministry’s Legal and Prosecution Division, with copies circulated to key stakeholders including Maddirala himself, the Directorate General of Corporate Affairs, and relevant regional and company registrars.