While the newly appointed board of crisis-hit Infrastructure Leasing and Financial Services (IL&FS) is slated to hold its second meeting on Friday, the government has expedited its own evaluation of the depth of the trouble the infrastructure-financing and engineering conglomerate has got into and steps to salvage it with whatever legitimate support.
According to sources, the ministry of corporate affairs (MCA) has commenced a “probe into 179 subsidiaries” of the debt-laden group, to ascertain if these firms, the existence of which wasn’t common knowledge until the board stumbled upon them in its first meeting, indeed have any operational role or are mere shell companies. Read more
Latest posts by Financial Express (see all)
- Indian Railways leads world by example! PM Modi flags off 1st ever diesel to electric conversion locomotive - February 19, 2019
- Indian Railways does a Gully Boy! Warns ticketless passengers in rap style with new ‘Tera Time Aayega’ video - February 19, 2019
- Indian Railways push for North-east! New LHB coaches refurbishing facility means more jobs, passenger comfort - February 19, 2019