IL&FS seeks to dissolve 15 group firms, aims to recover Rs15 crore


IL&FS seeks to dissolve 15 group firms, aims to recover Rs15 crore

In order to wrap up inactive entities, the IL&FS board will initiate voluntary liquidation of 15 small group companies soon, a senior official with knowledge of the matter said.

The board aims to recover around Rs 15 crore from the liquidation of these companies, wherein the IL&FS group is a majority shareholder, the official said. A plea is likely to be filed soon with the ministry of corporate affairs (MCA) for the liquidation of these companies, including Khambhat Port, the official said.

In a board meeting held on June 7, the government-appointed board of IL&FS approved undertaking voluntary or summary liquidation of 15 group companies engaged in sectors including roads, airport and port services and solar power, Read More

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