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Financials

1
Financials

The pandemic ruins Uday Kotak’s resolution plans for IL&FS. It’s a long and hard road ahead.

Uday Kotak was confident of recovering half of IL&FS’s INR94,000 crore debt by March 2020. But his plans lie in tatters, a victim of the rampaging pandemic. Kotak’s second term as chairman ends soon and the IL&FS board must consider the new realities. Kotak tells ET Prime a review is on the cards. It’s a test case for India’s troubled financial sector.

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