New IL&FS board’s rescue plan may follow old team’s ‘prescription’


New IL&FS board’s rescue plan may follow old team’s ‘prescription’

The board of directors at Infrastructure Leasing & Financial Services Ltd. may be new, but the direction and solution they may pursue may not be much different than what the ousted board planned — asset sale, fund raising through equity and debt, said two people who had discussions with the new members.

Inability to raise funds during the past many quarters did collapse the infrastructure lender and the new board should be able to succeed where the old one failed because of the government backing, the ousted members have told the new members, said those people who did not want to be identified.

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