 "Uday Kotak, Kotak Mahindra Bank")
Newly elected CII president Uday Kotak has said that he is not averse to the idea of takeover of weak businesses by financially strong entities, as long as it is in the interest of investors.
“Why should an investor be barred from selling his investments, which are currently hammered on account of the pandemic?,” said Kotak, adding that the decision to take a call should be left to the investor. However, he said, the government could take steps to prevent and protect India’s domestic businesses from predatory takeover from investors belonging to certain specific nations, because of strategic reasons.
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