Y M Deosthalee, brain behind L&T financial services business, dies at 74

Y M Deosthalee, L&T veteran and the brain behind its financial services business, died in Mumbai on Wednesday after prolonged illness. He was 74.

After graduating from Mumbai’s Sydenham College with a degree in commerce he qualified as chartered accountant.

He joined engineering conglomerate Larsen & Toubro in 1974. In September 1990, Deosthalee was made general manager, finance and personnel. He was promoted to L&T’s board of directors in 1995, and later was designated as chief financial officer. Deosthalee served as the first chairman and managing director of L&T Financial Services. 

Recalling his contributions, D Dubhashi, MD and CEO of L&T Finance Holdings,