The government has done well to contain the IL&FS contagion by superseding the company’s board of directors and taking over controls at this debt-ridden mess for the next few quarters.
But as the skeletons continue to tumble out from the IL&FS (Infrastructure Leasing & Financial Services) cupboard, it is becoming clear that the task at hand is even more complicated than thought earlier.
Not just due to the complexity of the operations of IL&FS and its crumbling financials, but also because of the huge amount of funds needed to get this group back on its feet.
The previous estimates of how much it owes the banks and other institutions are being challenged as the figure gets inflated, and this had raised the prospect of a huge amount of money needed to keep the company from collapsing. Read More
Latest posts by news18 (see all)
- Rs 35,000 Crore Plan To Electrify All Railway Lines Across Country: Official - October 22, 2018
- Soon, Delhi Metro To Expand Train Coaches But 2 Lines Remain Out Of Plan - October 17, 2018
- Indian Insurance Companies ‘Not Covering’ Storage of Iranian Oil as US Sanctions Loom - October 16, 2018