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Mr. Rajan, Non-Executive Chairman of the Company, is an IAS Officer of the 1978 Batch, who retired as Chief Secretary, Rajasthan, on June 30, 2016. He then served as Deputy Chairman, Chief Minister’s Advisory Council till December 2018. Mr. Rajan was appointed as Director by the Government of India on the newly constituted Board of Infrastructure Leasing & Financial Services Limited (IL&FS) on October 3, 2018. He took over as Managing Director, IL&FS on April 03, 2019. He was appointed as Chairman & Managing Director from April 3, 2022 after Mr Uday Kotak stepped down as Chairman. Mr Rajan was appointed and is continuing as Non-Executive Chairman since September 27, 2022.

During his 38 years in the IAS, Mr. Rajan has served for around 14 years in various capacities in Agriculture and Rural Development, 12 years in Infrastructure sectors like Power, Roads, Industries, 5 years in Finance and 5 years in General Administration. He has co-authored a book on “Farmers Participation in Agricultural Research and Extension”. Mr. Rajan has also briefly served as a Consultant with the World Bank.

Dr. J. N. Singh, Independent Director is an IAS Officer (Retd) of the 1983 Batch. He completed his tenure as the Chief Secretary of Gujarat State in November 2019 after serving for more than three years. Dr. Singh is a graduate from JNU and Ph.D. from MS University. He is also a Management graduate from the Asian Institute of Management, Manila, Philippines. He held many important portfolios including as Collector & District Magistrate, Junagadh, Member (Administration), Gujarat Electricity Board, Joint Secretary, Government of India, Member (Finance) National Highways Authority of India, Managing Director, Sardar Sarovar Nigam Limited, Addl. Chief Secretary in several departments like Revenue, General Administration and Finance before superannuating as Chief Secretary.

He has served largely in Infrastructure & Finance sector namely in the areas of Industrial Infrastructure, Power, Telecom, Highways, Water and State Finances. Dr. Singh has also served on several state-owned companies like Gujarat Gas, Gujarat State Petronet, GSFC, GACL, GNFC, Gujarat Maritime Board as Chairman and/or Managing Director. Presently he is serving as Independent Director on several companies and is CVC appointed Independent External Monitor for some major Public Sector Corporations.

Preeti Grover is an independent director on the board of the Investment Manager. She is a qualified company secretary (“CS”) and has over 27 years of experience with core specialization in corporate law compliances, listing compliances and secretarial audit. She is an active member in the CS profession and a faculty member at Northern India Regional Council of Institute of Company Secretaries of India, New Delhi. She is an active speaker on topics including corporate governance, independent directors, secretarial audit, prevention of sexual harassment at workplaces, social audit. She is a well-known and respected professional in the CS fraternity. She is also a council member of Anti Sexual harassment Council of Women's Indian Chamber of Commerce and Industry. She is also the winner of Platinum Award for “Best Mentor of the year 2022” by Professional Network Group of India, in association with the GD Goenka University.

Mr. S K Mitra, Independent Director, started his career with Bank of India and played a vital role in setting up the Merchant Banking division of the Bank. During the period from 1976 to 1984, he worked for Standard Chartered Bank in investment Banking and was advisor for several domestic and international business houses for new projects and acquisitions. Later in the year 1985, Mr. Mitra joined American Express Bank and was the head of Corporate Banking and Investment Banking in India. He also worked for the GIC Mutual Fund Aditya Birla Group. He joined Aditya Birla Group on 1994 as Director, Financial Services and set up a wide range of successful ventures.

Served as Independent Director on the Board and Committees of several reputed organisation. Currently, he is India Correspondent for Asia Asset Management, Hong Kong. Continues to be an Advisor to a Large International Bank. Has been an Advisor for small PE Firms and Start-up Firms. Have also been Independent Director on the Board of Companies on behalf of PE Firms. Continues to be associated with several international and domestic NGOs and business chambers in India. He is founding Governing Council Member of Association of Corporate Independent Directors.

Mr. Mitra holds M.Sc degree from University of Calcutta and an MBA from the USA.

Rajiv Uberoi is a non-executive, independent director on the board of the Investment Manager. He is a career banker with more than 35 years of experience in public sector, private sector and foreign banks. He was also with the Reserve Bank of India in the area of supervision and regulations. He was also associated with Yes Bank as a senior group president — governance and controls after serving at senior positions of IDFC Bank Limited and its subsidiaries. As a lawyer and a banker, he has been instrumental in number of mergers and acquisitions namely, ANZ Grindlays and Standard Chartered Bank; Standard Chartered Bank and American Express Bank; IDFC demerger into bank and other subsidiaries, to name a few. He has been responsible for rolling over half a dozen private equity funds with gross assets under management (AUM) of more than USD 6 billion and incorporating entities overseas and merging some. He is also a profound writer and has a lot of publications to his credit. He also represents the boards of various companies including committees. He is a recipient of many accolades and awards and his contribution to the legal fraternity has been recognised in the industry. He holds the following degrees: LL.B, M.A. (Economics), Ph.D.(Philosophy), Ph.D. in Economics.

Lubna Usman is a non-executive director on the board of the Investment Manager since January 11, 2024. She also holds non-executive board positions at IL&FS Investment Managers Limited, IL&FS Securities & Trustee Services Limited, IL&FS Portfolio Management Services. She is a senior management professional with more than 21 years of experience in providing strategic leadership, project finance, debt restructuring and treasury management across banking and non-banking finance companies. She has worked for 11 years with IDBI Bank in various leadership roles and has led the bank’s client coverage – sourcing, structuring and syndication of project debt for North and East region. At Infrastructure Leasing & Financial Services Limited (“IL&FS”), her key responsibilities included debt structuring, project finance and corporate fund raising through capital market and other debt instruments across infrastructure verticals. Since October 2018, she is a key member of the core team engaged in the resolution of debt of IL&FS group, under the supervision of the new board appointed by the Government of India. Currently, she is the COO at IL&FS Financial Services Limited, leading the creditor engagement across all banks, financial institutions and other category of lenders and in-charge of debt restructuring and resolution. She is a postgraduate in business administration from the SIES College of Management Studies, Mumbai.

Dhanraj Tawde is a non-executive director on the board of the Investment Manager since November 27, 2024. Mr. Tawde retired as Member (Technical) in NHAI, Ministry of Road Transport & Highways, in May 2019, after serving from August 29, 2016, to May 15, 2019. With over 37 years of experience in the Ministry of Road Transport & Highways (MORTH) and NHAI, he held various key positions, including AEE, EE, SE, CE, ADG, GM, Project Director, CGM, and Board Member.

He was instrumental in the development, improvement, and widening of over 12,000 km of national highways under government funding and BOT models, including project reports for 5000+ km and contract agreements for 7500+ km. He also contributed to the implementation of NHDP and Bharatmala projects, policy formulation, and resolution of contractor claims under the Arbitration and Conciliation Act. Known for excellent coordination with state and central government entities, his work has significantly advanced national highway infrastructure. He holds a Bachelor of Engineering degree (Civil) from the University of Nagpur.