‘No finish line to His-story’: Anand Mahindra on Uday Kotak's resignation
Indian bank which sports two corporate names – Kotak and Mahindra family. In 1985, during Uday Kotak's marriage reception to Pallavi Kotak, Anand Mahindra, a fresh Harvard graduate was a guest in attendance. When introduced It was Uday Kotak's wedding reception in 1985.
Anand Mahindra, then a fresh Harvard graduate and an acquaintance of Kotak, was in attendance. A common friend of theirs told him that Kotak was planning to launch a financial company. Mahindra offered to invest in the company.
According to Economic Times report, Mahindra and Kotak decided to name the financial company Kotak Mahindra Finance. In there Anand Mahindra invested a capital of ₹1 lakh out of ₹30 lakh, in 1985. However, that was not the first time Anand Mahindra met Uday Kotak.
On the day Uday Kotak announced his resignation from the post of Chief Executive Officer and Managing Director of Kotak Mahindra Bank, three months ahead of his scheduled resignation, Mahindra Group Chairman Anand Mahindra recollected the first time he met Kotak, a man in his early twenties with a ‘special mind’. Anand Mahindra penned a note on the day his friend and fellow businessman decided to resign from Kotak Mahindra Bank as its MD and CEO. Mahindra in his post on microblogging site ‘X’ (formerly Twitter) recalled how Uday kotak had walked into his office at Mahindra Ugine Steel ‘almost 4 decades ago and offered me a bill-discounting faculty’.
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