New Delhi: The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for the appointment of Manoj Mittal as Managing Director and Chief Executive Officer (MD & CEO) of IFCI Limited. According to an order issued by the Department of Personnel & Training (DoPT), Mittal has been appointed to the post for a period of three years from the date of taking over charge of the post, or until further orders, whichever is earlier.
"The assignment may be extended by up to 2 years based on performance provided that he will not hold the post after attaining the age of 60 years," the order added.
IFCI Limited, previously known as Industrial Finance Corporation of India, is a development finance institution under the Ministry of Finance. Established in 1948 as a statutory corporation, IFCI is currently a company listed on BSE and NSE. IFCI has seven subsidiaries and one associate. It provides financial support for the diversified growth of industries across the spectrum. The financing activities cover various kinds of projects such as airports, roads, telecom, power, real estate, manufacturing, services sector and other allied industries.
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