Evergrande crisis seems like China's Lehman moment, reminds us of IL&FS: Uday Kotak

Kotak Mahindra Bank's billionaire MD Uday Kotak on Tuesday said that the crisis surrounding debt-laden Chinese property giant "Evergrande seems like China's Lehman moment" and reminds of IL&FS' collapse in India. He added that Indian government had "acted swiftly and provided calm to financial markets". On Monday, concerns over Evergrande's potential collapse sparked a sell-off in global markets.