IL&FS Investment Managers Limited has informed the Exchange regarding Resignation of Mr. Kaushik Modak as Non- Executive Director of the company w.e.f. February 20, 2026.
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IL&FS Investment Managers Limited has informed the stock exchanges that Mr. Kaushik Modak, a Non-Executive Nominee Director, has resigned from the board with effect from February 20, 2026. He was nominated by the company's holding company, Infrastructure Leasing & Financial Services Limited (IL&FS), which has also withdrawn his nomination. The reason cited for the resignation is personal reasons, and the company has confirmed there are no other material reasons. Mr. Modak will also cease to be on any board committees of the company. The holding company (IL&FS) will now need to nominate a replacement director.
This is a routine change at the board level involving a nominee director of the promoter (holding) entity. Since Mr. Modak was a Non-Executive Director with no executive role, the day-to-day operations of the company are unlikely to be affected. Shareholders may want to monitor whether the holding company nominates a replacement soon, but the immediate impact on the stock is expected to be minimal.