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Maddirala was appointed to the IL&FS board by an order of the Mumbai bench of the National Company Law Tribunal dated October 1, 2026.
Following that appointment, the Ministry of Corporate Affairs designated him as chairman and managing director. As per the ministry’s order, his tenure in the post will run for two years from the date of joining.
The order said Maddirala will receive remuneration of Rs 5.5 lakh per month, along with a company car and company-leased accommodation. The ministry also directed IL&FS to complete the necessary procedural formalities to implement the order, which was issued with the approval of the competent authority.
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The order was signed by Sunidhi Misra, deputy director in the ministry’s Legal and Prosecution Division. Copies were sent to Maddirala, the Directorate General of Corporate Affairs, the Regional Director (Western Region) in Mumbai, and the Registrar of Companies, Mumbai. The appointment comes as IL&FS continues its resolution and asset monetisation process following the infrastructure financier’s debt crisis.