GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

Multiple Options Explored; Selling IL&FS as Going Concern Best Case Scenario: Srinivas

IL&FS, which arranged financing for infrastructure projects, has amassed huge debts and has defaulted on payment obligations for some.

PTI

Updated:November 5, 2018, 12:48 PM IST
facebookTwittergoogleskypewhatsapp
Multiple Options Explored; Selling IL&FS as Going Concern Best Case Scenario: Srinivas
File photo of Infrastructure Leasing and Financial Services Ltd. office in Mumbai.
Loading...
New Delhi: The government is mulling the sale of crisis-hit Infrastructure Leasing and Financial Services (IL&FS) as one of the options to resolve issues facing it, Corporate Affairs Secretary Injeti Srinivas said Monday.

IL&FS, which arranged financing for infrastructure projects, has amassed huge debts and has defaulted on payment obligations for some.

"Whatever is in the best interest of the stakeholders, including public interest, will be the factor which will guide a resolution," he said.

"As far as IL&FS is concerned, I think the report which has been submitted to the National Company Law Tribunal (NCLT) articulates the approach. So it could be in the best scenario that IL&FS as a group enterprise is sold as a going concern," he added.

However, there are serious issues and the likelihood of such an outcome is limited, he said.

The government has seized control of IL&FS and ordered an inquiry by the Serious Fraud Investigation Office.

"There are alternative approaches of looking at separate verticals, and verticals going as one consolidated entity. And the last approach is that you have an asset level sale," he said.

But what seems most probable is to have a combination of all the three approaches, he said.

"All the three approaches in some sort of permutation and combination can ultimately be the outcome," he said.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Jet Airways 346.50 7.98
Yes Bank 191.00 -7.21
Reliance 1,127.40 2.79
ICICI Bank 367.55 -0.66
Indiabulls Hsg 766.20 -4.80
Company Price Change %Gain
Jet Airways 346.85 8.07
Mindtree 838.20 -0.05
Yes Bank 191.30 -7.14
HDFC 1,887.55 1.91
Info Edge 1,370.00 -0.48
Top Gainers
Company Price Change %Gain
Bharti Airtel 332.75 9.31
HCL Tech 1,022.20 3.38
Eicher Motors 24,735.00 3.30
Grasim 831.90 2.87
Reliance 1,127.40 2.79
Company Price Change %Gain
Bharti Airtel 333.60 9.81
Reliance 1,127.50 2.79
HDFC 1,887.55 1.91
SBI 290.30 1.75
Hero Motocorp 2,954.55 1.28
Top Losers
Company Price Change %Gain
Yes Bank 191.00 -7.21
Indiabulls Hsg 766.20 -4.80
JSW Steel 335.10 -2.76
Tata Steel 574.10 -2.59
IOC 143.35 -2.25
Company Price Change %Gain
Yes Bank 191.30 -7.14
Tata Steel 574.10 -2.47
Maruti Suzuki 7,332.05 -2.02
ONGC 156.55 -1.48
Axis Bank 618.30 -1.17

Live TV

Loading...
Loading...