90% of IL&FS financial service arm’s Rs 19,000-crore assets are NPAs

Addressing a press conference to provide a six-month update, chairman Uday Kotak said that the board has strengthened the management by appointing C S Rajan as managing director and bringing in chief executives for various verticals. Vineet Nayyar has been repositioned as executive vice-chairman. “We have a solid management team to manage the resolution process,” said Kotak.

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