Telecom equipment manufacturer GTL Infrastructure today said it had appointed Milind Bengali as co-chief operating officer.

He was heading the company's M&A division.

Besides, Milind Naik has been re-designated as whole-time director and co-chief operating officer, GTL Infra said in a filing to the Bombay Stock Exchange (BSE).

The company said it had also received approval from the Corporate Debt Restructuring (CDR) Cell, Mumbai, for restructuring loans.

A committee of the board is constituted to discuss, negotiate, finalise the various terms and conditions stipulated therein, interalia issuance of securities in terms of the CDR process, the filing said.

GTL Infrastructure Chief Financial Officer Prasanna Bidnurkar has been re-designated as head (CDR) and will be responsible for all the matters related to the CDR.

Accordingly, Bhupendra Kiny has been appointed as chief financial officer, the filing said.

The committee formed will also consider withdrawal of scheme of arrangement between the company and Chennai Network Infrastructure (CNIL) and consider fresh scheme of amalgamation.

The company's shareholders had approved scheme of amalgamation of CNIL with itself in April.

The scheme envisaged an exchange ratio of one equity share of GTL Infra for every four equity shares of CNIL.

CNIL was formed as a special purpose vehicle to acquire Aircel's tower assets.

Shares of the company today closed at Rs 8.95 a piece, down 4.18% compared to its previous close on the BSE.