By CNBC-TV18 Oct 5, 2018 10:51:00 AM IST (Published)
The crisis at Infrastructure Leasing and Financial Services Ltd (IL&FS) and the government's decision to bail it out is a concern for investors in overseas markets, emerging markets investor Mark Mobius told Mint in an interview.
The crisis at Infrastructure Leasing and Financial Services Ltd (IL&FS) and the government's decision to bail it out is a concern for overseas investors, emerging markets investor Mark Mobius told Mint in an interview.
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According to Mobius, founding partner of Mobius Capital Partners LLP, the bailout decision demonstrates to investors the problem of leverage of some of these companies.
"So they are going to be very cautious.," he told the newspaper.
The government seized the control of IL&FS on October 1 in a Satyam Computer style takeover and superseded its board and appointed a new one led by banker Uday Kotak.
The newly appointed board named Vineet Nayyar as vice chairman (VC) and managing director (MD) of the company on Thursday.
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