After reviewing more than 165 entities within the IL&FS Group, the new Board of the debt-laden and cash-strapped IL&FS Group said it found close to 100 entities with operational cash gap till March 31, 2019.
What this means is that these 100 entities could default on their debt obligations. Over the last few months, IL&FS and some of its arms have defaulted on banks loans, commercial papers and non-convertible debentures.
As per a report submitted by IL&FS to the Ministry of Corporate Affairs, some of the key entities which will face the cash gaps include IL&FS, Read More
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