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Government extends Uday Kotak's tenure by one year on IL&FS board

Updated : November 14, 2019 12:39 PM IST

Kotak was appointed by the government as the head of the lender's board which will help the troubled company come out of difficulties after the state took over the board.
Under the Banking Regulation Act, a bank cannot be managed by any person who is a director of any other company.

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