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Kotak has been paid Rs 207 crore out of Rs 395 cr dues from Essel: Lakshmi Iyer

The remainder amount are likely to be paid off by the end of this month, says the CIO, Fixed Income.

ET Now|
Sep 11, 2019, 10.12 AM IST
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Lakshmi Iyer-Kotak MF-1200
The payment was in line with how Essel had guided us and it seems to be fairly on track at this point in time, says Lakshmi Iyer, CIO, Fixed Income & Head, Products, Kotak Mutual Fund. Excerpts from an interview with ETNOW.

How are you reading into the news that the Essel group has repaid 50% of the debt to mutual fundd?
This was in line with what they had guided us and it seems to be fairly on track at this point in time.

What is the timeline looking like for the balance payment as well?
We have timed it will be the end of this month and we are on track at this point in time.

Can you tell us how this payment will affect you?
Ours was a small exposure of about Rs 395 odd crore, of which we have received Rs 207 odd crore, which is about 53%. The remainder remains to be paid off by the end of this month.

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