Uday Kotak is stepping down from his position as non-executive chairman of IL&FS three-and-a-half years after the government and regulators asked him to steer the infrastructure financing giant out of a colossal mess.<\/p>\n
Kotak, who has often been asked to play the role of a trouble shooter in badly managed companies, is leaving with more than half the job done. <\/p>\n
In a statement issued on Tuesday, IL&FS said the government-appointed board led by Kotak had resolved debt worth over Rs 55,000 crore out of a total outstanding amount of Rs 99,000 crore.<\/p>\n
Kotak is set to step down on April 2. The Union government has appointed C.S. Rajan as chairman and managing director of IL&FS and he will take charge for a period of six months from April 3.<\/p>\n","protected":false},"excerpt":{"rendered":"
Uday Kotak is stepping down from his position as non-executive chairman of IL&FS three-and-a-half years after the government and regulators asked him to steer the infrastructure financing giant out of a colossal mess. Kotak, who has often been asked to play the role of a trouble shooter in badly managed companies, is leaving with more than half the job done. In a statement issued on Tuesday, IL&FS said the government-appointed board led by Kotak had resolved debt worth over Rs 55,000 crore out of a total outstanding amount of Rs 99,000 crore. Kotak is set to step down on April […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,218,148],"tags":[],"class_list":["post-480367","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-roads-the-telegraph","category-the-telegraph"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/480367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=480367"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/480367\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=480367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=480367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=480367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}