IFCI’s Chief Executive Officer and Managing Director Atul Kumar Rai has put in his papers.
Friday will be his last day at work as the head of the New Delhi-based systemically important non-banking finance company, which is now a Government-owned entity.
Ever since the Government got full control of the company in October last year, the fate of Atul Rai was hanging in balance.
Rai’s term was till July 2017 with the IFCI Board reappointing him for five years in 2012.
Apparent differences with the Government over the management of IFCI had led to his decision to quit, it is learnt.