IFCI - Outcome Of Board Meeting

IFCI Ltd has informed that the Board of Directors of the Company at its meeting held on July 06, 2007, inter alia, has transacted the following business:1. Approved, in principle, proposal for inviting Expression of Interest from strategic investors in accordance with long-term vision and business objectives of the Company.2. Pursuant to appointment of Shri. R M Malla as CMD of Small Industries Development Bank of India (SIDBI), the Board accepted the resignation of Shri. Malla and agreed to relieve him at the close of business on July 10, 2007.3. Approved appointment of Whole lime Director, Shri. Atul Kumar Rai as CEO & Managing Director w.e.f. July 11, 2007.