 "Keki Mistry, Vice Chairman, HDFC")
Infrastructure Leasing & Financial Services’ (IL&FS) recent default on debt papers has spooked the market, and with other obligations coming up in the next few weeks, there are fears that there could be a contagion if the company continues to default. Keki Mistry, vice-chairman, Housing Development Finance Corporation (HDFC), tells Joydeep Ghosh that debt fund investors could become risk-averse, leading to problems for other non-banking financial companies (NBFCs). HDFC was one of the original promoters of IL&FS and still holds around 9 per cent stake in the company. Edited excerpts:
How serious is the IL&FS problem? Can it spread and hurt
