IL&FS Engineering and Construction Company shares were locked in 5 percent upper circuit at Rs 17.15 on Monday after the appointment of Dilip Bhatia as additional director.
IL&FS Transportation Networks was also locked in 5 percent upper circuit at Rs 13.95 on the BSE.
"Board of directors, on December 24, has appointed Dilip Bhatia as an additional director of the company with effect from today," the IL&FS group company said in its filing.
Bhatia joined IL&FS Transportation Networks as CFO on August 24, 2015 and was redesignated as Chief Strategy Officer effective September 22, 2018 and as Chief Executive Officer - Officiating since November 15, 2018.
He was also associated with the IL&FS Group Companies including in Infrastructure Leasing and Financial Services Limited (IL&FS) from March 1994 to May 2004 and held positions of Chief Financial Officer and Head of Operations. He was nominated on the board of the company by IL&FS, promoter of the company.
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Source: Moneycontrol
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