Debt-ridden Infrastructure Leasing & Financial Services (IL&FS) on Thursday said GN Bajpai has resigned from the company's newly-appointed board, citing personal reasons.

His resignation will be effective October 30.

Bajpai, an ex-Sebi chairman, was one of the seven directors appointed on the company's board by the government following NCLT order to supersede previous board.

"The company has been intimated by the ministry of corporate affairs, vide its letter dated October 30, 2018, that due to personal reasons, GN Bajpai, director of IL&FS, has resigned from the board of directors of the company with effect from October 30, 2018," the firm said in a regulatory filing.

Post Bajpai's exit, the members remaining on the company's board are banker Uday Kotak, who is the chairman; ICICI Bank executive chairman GC Chaturvedi; IAS officer and the director general of shipping Malini Shankar; Mahindra group's Vineet Nayyar, veteran auditor Nandkishore and CS Rajan, a former chief secretary of Rajasthan.