India-based Religare Enterprises Ltd. appointed Milind Narendra Patel its group CEO, effective Aug. 7.

He replaces Ashok Mehta, who stepped down as interim CEO of the company, according to a same-day filing. Mehta will serve as a nonexecutive nonindependent director instead of a whole-time director, subject to regulatory approval.

Patel previously worked at IL&FS' financial services businesses, IL&FS Financial Services Ltd. and IL&FS Investment Managers Ltd.