The crisis in the debt-ridden Infrastructure Leasing and Financial Services (IL&FS) is set to be addressed by undertaking asset-level sale process first before putting in place a plan for a single group-level or vertical-level resolution, sources said.
This would mean that IL&FS group’s equity stakes in individual assets such as road, power and renewable energy projects will be sold first as part of the exercise to restore health of the crisis-hit entity. Once this process is completed, options would be explored to resolve IL&FS at vertical and group level.
The asset-level resolution plan, which has also been mentioned in the third progress report finalised by the new board under the directions of Ministry of Company Affairs (MCA) Read More
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