New Delhi: Vibhu Nayar (IAS) is the new Chairman & Managing Director of MMTC Limited. He has assumed charge of the post with effect from March 1, 2022. With his new assignment, he has replaced Sanjay Chadha, who was holding charge of the post. This information has been shared by MMTC Limited in a regulatory filing to the stock exchanges on Thursday.

Nayar is a member of the Indian Administrative Service (IAS) and senior policymaker in India with three decades of experience in PSUs, projects and policy implementation. He has led many mega infrastructure projects in collaboration with the World Bank and other multilateral financial institutions. He is currently serving as Executive Director at the India Trade Promotion Organisation (ITPO) under the Department of Commerce.

"Nayar is not related to any other Director on the Board of the Company on the date of his appointment in MMTC Limited and is not debarred from holding the office of Director pursuant to any SEBI order or order of any other such authority," MMTC further informed in its filings.

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