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Vineet Nayyar, former Vice-Chairman of Tech Mahindra passed away on Thursday at the age of 85.
A former Indian Administrative Service (IAS) officer, Nayyar also worked with the World Bank for over 10 years in a series of senior assignments, including the Chief for the Energy, Infrastructure and the Finance Divisions for East Asia and Pacific. He was the first Chairman of state-owned GAIL (India) Ltd from 1986 to 1991.
“It saddens me to share the news of the passing of Vineet Nayyar this morning. Vineet was a larger than life figure in the Indian Business landscape,” Mahindra Group Chairman Anand Mahindra wrote on X (formerly Twitter).
“Thank you Vineet, for your wisdom, your leadership and for committing the crowning part of your career to the Mahindra Group,” he wrote.
Tech Mahindra’s acquisition of fraud-hit Satyam in 2009 was spearheaded by Nayyar.
In the private sector, he served as the Managing Director of HCL Corporation and as the Vice Chairman of HCL Technologies. He was also the founder & CEO of HCL Perot Systems.
He had also served on the boards various companies, including Indian Oil Corporation, Great Eastern Shipping and Kotak Life Insurance.
In October 2018, Nayyar was appointed as the Vice Chairman and Managing Director of crisis-hit Infrastructure Leasing and Financial Services (IL&FS) by the government.
“We are deeply saddened to hear of the demise of Mr Vineet Nayyar – who spearheaded the IL&FS resolution first as its Managing Director and then as its Vice Chairman,” IL&FS said in a statement.
He resigned from the IL&FS board, due to his health, in 2020.
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