IL&FS has 348 entities, more complex than expected: Kotak
Uday Kotak, Chairman of the newly-constituted board of debt-laden Infrastructure Leasing & Financial Services (IL&FS), has said there are 348 entities within the group making resolution more complex than expected. The figure is more than double the initial estimate of 169 subsidiaries, joint ventures and associate companies. The board has appointed Vineet Nayyar as MD and Vice-Chairman of IL&FS.