Kotak succeeds
Hasmukh Adhia, who had been serving as Non-Executive Chairman of the Board of
Directors since June 19, 2023.
According to an official document issued by the Urban Development and
Urban Housing Department of the Gujarat government on Friday, Kotak’s
appointment will remain in force until further orders. The detailed terms and
conditions of his appointment will be decided at a later stage.
Uday Kotak is the
founder and former Managing Director and Chief Executive Officer of Kotak
Mahindra Bank, one of India’s leading private sector banks.
GIFT City — India’s first International Financial
Services Centre (IFSC) — is located in Gandhinagar, Gujarat. The project has
been envisioned as a global financial and technology hub aimed at attracting
international financial institutions, investors, and businesses to India.