The CEO&MD and DMD of Industrial Finance Corporation of India Ltd. (IFCI Ltd.) were appointed with effect from 12.12.2013 for a period of three years. IFCI became a Government Company with effect from 07.04.2015. The Appointments Committee of Cabinet has approved the continuation of CEO&MD and DMD of IFCI Ltd. beyond their age of superannuation till the completion of their contract period i.e. upto 11.12.2016.
This information was given by Minister of State for Finance in a written reply in Rajya Sabha on 1st December 2015.