Santosh B Nayar new CEO & MD of IFCI

NEW DELHI: State-run finance companyIFCIBSE -3.20 % today said Santosh B Nayarhas been appointed as Chief Executive Officer and Managing Director of the company. 

"...with the approval of the Board of Directors, Santosh B Nayar has joined IFCI as CEO&MD w.e.f. July 15, 2013," IFCI said in a filing to the BSE. 

Anurag Jain, Government Director, has consequently handed over the charge of CEO & MD to Nayar, it added. 

Further, it said 
Ashok Kumar Jain has been inducted as Additional Director of IFCI from July 15, 2013. 

Anurag Jain, Joint Secretary, Department of 
Financial Services, Ministry of Finance was appointed interim CEO and Managing Director of IFCI in late May as the previous CEO&MD Atul Kumar Rai had resigned from the company following differences with the government. 

Rai, whose term was till June 2017, had tendered his resignation in May. 

Shares of the state-owned finance firm today closed at Rs 26.60 apiece on the 
BSE, up 1.53 per cent from the previous close.