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
Latest posts by Financial Express (see all)
- 6 steps that could help the govt in transforming the infrastructure landscape - June 19, 2019
- IL&FS scam: Audit firm noted lapses by IFIN but looked the other way - June 19, 2019
- Indian Railways bets on huge modernisation project! New signalling system to bring network to world-standards - June 18, 2019