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Wednesday 2 October 2019

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Only 50% of Rs 94,000 crore IL&FS debt to be addressed

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The IL&FS resolution process is expected to address only half of the group’s debt of Rs 94,000 crore, according to Uday Kotak, the government-appointed chairman of the troubled infrastructure and finance group. The government on Tuesday amended banking laws to enable Kotak to be on the IL&FS board for one more year.

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