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Uday Kotak
Uday Kotak (born 15 March 1959) is an Indian billionaire banker, entrepreneur, and the founder and executive vice chairman & managing director of Kotak Mahindra Bank, one of India’s leading
...Read more- CS Rajan appointed MD of IL&FS, Vineet Nayyar named Executive Vice-Chairman
IL&FS Chairman Uday Kotak, who was roped in to put the troubled firm back on track, is presenting a status report on where the company stands after six months.
- Kotak-RBI row: Bombay HC rejects interim relief again, adjourns hearing to April 1
The court turned down the bank's plea for an interim protection from regulatory action saying the matter is not as simple as the petitioner is making it out to be, and posted the matter for further hearing to April 1.
- 6 reasons why India's capex cycle is still far from a recovery
Animal spirits in the corporate sector are low and corporate earnings for the December quarter have been nothing to write home about
- Technology giants have no business in banking: Uday Kotak
"If a Google or a Facebook ever decided to be a bank, we have a problem...They don't want to be as regulated as we are," Kotak, who heads Kotak Mahindra Bank said while speaking at the annual Nasscom leadership summit here on Wednesday.
- HC refuses interim relief to Kotak Mahindra Bank; Here’s what investors need to know
In response to the writ petition filed by Kotak Mahindra Bank (KMB), the Bombay High Court has refused to stay the December 31 deadline for promoter stake dilution.
- HC refuses to stay Dec 31 deadline for Kotak Mahindra Bank promoter stake dilution
This means that the bank will have to reduce promoter stake by 10 percent in the next 15 days or risk facing action from the RBI.
- Kotak Mahindra Bank knocks HC's doors over promoter stake dilution issue
The lender had been asked by the RBI in August to dilute Kotak's stake in it to below 20% by December 31, following which it conducted a sale of perpetual non-convertible preference shares
- New IL&FS board outlines cost cutting, asset sale initiatives in progress report to NCLT
The new board had taken charge after NCLT approved a resolution of the liquidity crisis at IL&FS given its huge debt of Rs 91,000 crore.
- Independent directors have role of knowledge, scale and input; but don't push too hard: Uday Kotak
"The role of management is to run and execute and come out with a whole business strategy and everything else. The role of board is to challenge it and govern it," he said.
- 'RBI should push for fresh issuance of shares by banks to meet licensing guidelines'
Some investors on condition of anonymity said the RBI should push for fresh issuance of shares by banks to meet licensing guidelines.
- Uday Kotak welcomes RBI board's decisions, says it will be 'positive' for economy
The RBI board announced plans to set up a committee to examine the economic capital framework (ECF) of RBI.
- IL&FS crisis: This subsidiary was operating without capital for three financial years
The IL&FS board said that loans of more than Rs 1,500 crore provided to one of the companies in the group had been routed through eight other subsidiaries
- IL&FS board to seek 3-5 more months from NCLT to submit resolution plan
The board is now considering several options, including selling stake in the company and its subsidiaries to a financially strong investor
- IL&FS group appoints three advisors for resolution plan
IL&FS has also confirmed the appointment of Alvarez & Marsal as Restructuring Advisors to the Group.
- IL&FS may seek government bailout: Report
The failure of IL&FS' rights issue, which was open from October 5 to October 19, was a setback to the group and will make way for more repayment defaults.
- Corporate Affairs ministry readying detailed report on IL&FS ahead of NCLT hearing on Oct 31
The newly constituted Uday Kotak-headed board will meet MCA secretary Injeti Srinivas in New Delhi on October 10
- IL&FS may require equity infusion to the tune of Rs 30,000 cr: Report
IL&FS Group’s total debt as on March end 2018 stood at over Rs 91,000 crore. Its non-executive chairman Uday Kotak suggested the debt levels could further increase
- IL&FS Group companies count stands at a whopping 348!
The emergence of additional IL&FS entities could pose further challenges for the board.
- New IL&FS board to convene today: Here are 5 things to expect
The board is expected to submit a preliminary report by October 8 and a comprehensive resolution plan in two weeks
- RBI’s Bandhan Bank diktat: Here’s what investors need to know
In essence, the high promoter holding in Bandhan Bank is an optical illusion. It is actually widely spread out but entangled. To this extent, RBI's action seems too stringent but sets a strong precedent
