Kotak Mahindra AMC part of consortium of lenders, says Essel Group

Multifaceted business conglomerate Essel Group on Thursday said that Kotak Mahindra AMC is also a part of the consortium of lenders with whom it has achieved an arrangement regarding a resolution for the repayment by September 29. In a press note issued here, Essel Group said that it is confident to complete the repayment towards each and every lender.

The release said: "The Group also wishes to state that it cannot comment on the arrangement between Kotak Mahindra AMC and its investors." "As a responsible conglomerate, with a legacy of over 90 years, Essel Group remains committed to achieving the resolution by the mentioned timeline, with a sole objective of saving the loss of public money and the repayment of each and every lender...The Group has always been andwill always remain, grateful towards its lenders for their trust, patience and valuable support," the release added.