 "S B Mathur")
S B Mathur, former chairman of Life Insurance Corporation (LIC), will be the new chairman of Infrastructure Leasing & Financial Services (IL&FS), which is facing a liquidity crisis. He will replace Hemant Bhargava, LIC’s managing director, who was also serving as non-executive chairman at IL&FS since July. The decision was taken at a meeting of the IL&FS board on Saturday.
Bhargava stepped down from the IL&FS board to avoid conflict of interest in view of his responsibility as the incharge of investment at the state-owned insurance company, sources said. He had come on the IL&FS board after Ravi Parthasarathy quit
