Bankruptcy: Guiding principle should be for lenders to minimise losses in a transparent manner : Uday Kotak

Talking to Neha Bothra of ETNow, Uday Kotak, Vice Chairman & MD, Kotak Mahindra Bank and Nandan Nilekani, Non-Executive Chairman, Infosys talk about their perspective on the cement company bidding process chaos and the Aadhar verdict respectively.

Can you throw light on the confused state of affairs that have set in the resolution proceedings of a prominent cement maker's bidding process?

Uday Kotak: Firstly, without getting into the specific cases, the fact of the matter is that a resolution process is not where lenders are likely to get all their money. We should not mix it with the rest of the challenges. On the contrary, it is the place where lenders are likely to lose money and therefore the objective is to minimise the level of losses for the system. Hence, the challenges in the resolution proceedings can be only met by coming up with a better process, which we have not been able to figure out for the last 8-10 yrs.


But would you say it is acceptable to have a resolution process once an account is undergoing NCLT proceedings under IBC Code?

Uday Kotak: Without getting necessarily into it the specifics of the matter. The guiding principle should be that lenders must get more money back in the most transparent manner.

Nandan Nilekani, Non-Executive Chairman, Infosys on Aadhar

Mr Nilekani in your earlier interview with ET Now you had mentioned that there seem to be an orchestrated campaign to malign Aadhaar. But with the Supreme Court verdict, how do you read the developments now?

Nandan Nilekani: Well, It is not really a verdict, it is an interim thing meaning that this case is going to continue for some more time now. Aadhar is fundamental to India’s future and is here to stay. Therefore, I’m very confident for a balanced and good judgement from the court.