Infrastructure lender IL&FS is facing yet another hurdle with one of its newly appointed directors resigning from the board on Thursday. G N Bajpai has resigned from the board within a month of being appointed by the government as director citing personal reasons.

His resignation is effective from October 30, Infrastructure Leasing & Financial Services said in a regulatory filing, which did not specify the reasons for quitting.

Bajpai, an ex-Sebi and ex-LIC chairman, was one of the seven directors appointed on the company’s board by the government on October 1. The other members of the board are banker Uday Kotak, who is the chairman; ICICI bank executive chairman G C Chaturvedi; IAS officer and the director general of shipping Malini Shankar; Mahindra group’s Vineet Nayyar, veteran auditor Nandkishore and C S Rajan, a former chief secretary of Rajasthan.

“The company has been intimated by the ministry of corporate affairs vide its letter dated October 30, 2018, that due to personal reasons, G N 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 the filing.

Meanwhile, IL&FS Transportation in a separate filing said it has defaulted on interest payment worth Rs 2.29 crore on non-convertible debentures, due Thursday. The company also said its independent director, Neeru Singh, has resigned as member of its board, effective Thursday.

After taking charge the new board had formed four committees and Bajpai was a part of the shareholders’ relationship committee and corporate social responsibility.

The board, in its October 12 meeting, had appointed nominee directors in eight subsidiaries of IL&FS, but, ironically, Bajpai was not appointed as a director on any of these subsidiaries. On Wednesday, it had submitted a progress report and the resolution plan to NCLT. The board expects to complete the resolution process, in stages over the next two to three quarters.