After Kotak FMP unit holders failed to receive their total investment in Series 127 and 183, Subhash Chandra-backed Essel group has said that it is committed to repay every lender by September. Notably, Kotak FMP Series 127 and 183 that matured on April 8 and April 10 had an exposure of nearly 18% and 19%, respectively, to the Essel Group, according to the disclosures by the firm. Kotak AMC has said that the time allowance has been given to the Essel group company to be able to effect stake sale and pay back lenders. "The principle plus accrued interest on the retained part will be paid out to investors once we get the funds from such stake sale. We are regularly interacting with company to track progress of the stake sale," Lakshmi Iyer,\u00a0(Debt) & Head of Products, Kotak Mahindra AMC told Financial Express Online. Also read:\u00a0Rs 40,000 cashback on Paytm Mall: Sweepstakes, holidays, other offers; check details Notably, Kotak MF said that the retained portion will be returned to the unit holders along with the accrued interest on or before September 30th, as it expects to receive the payment from Essel group by then. "Essel Group wishes to highlight the point that based on its arrangement with the lenders, of which even Kotak Mahindra AMC is a part; repayment along with interest will be made to each and every lender, as per the agreed timeline of September 2019," CNBC TV18 reported citing company spokesperson as saying. The statement added that\u00a0Essel Group remains committed to achieve the resolution, with a sole objective of saving the loss of public money and the repayment of each and every lender. Kotak FMP Series 127 has investments worth Rs 80 crore in Konti Infrapower & Multiventures and Edisons Utility Works, two Essel group firms. The total assets of the schemes as on February stood at approximately Rs 450 crore. "We have followed the regulations with respect to issuer limit as also group limit," Iyer said, adding that if the strategic sale by Essel Group is consummated by September 30th, and Kotak MF receives the money, the amount will be returned to the unit holders\u2013-both the principal as well as the accrued interest.