 "Jaypee infratech")
Kotak Investment Advisors, one of the bidders for Jaypee Infratech, is now reluctant to invest in equity.
The firm, which provides investment management and advisory services, has told the committee of creditors it is uncomfortable being an equity holder in debt-ridden Jaypee Infratech. “Kotak is highly uncomfortable in taking any equity stake in Jaypee Infratech,” the company said in a recent meeting of creditors.
Kotak Investment Advisors sought clarification on whether the existing shareholders could continue in the company and if the lenders could hold a stake in it.
IDBI Bank, one of the lenders, said according to the Insolvency
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