LIVE TV DownloadNews18 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.



Catch the Biggest Newsmakers and the Biggest Newsbreaks on CNN-News18, your favourite English TV news channel. Keep watching CNN-News18 at just 50 Paise per Month. Contact your cable /DTH operator Now!
*Rental / capacity fee of Rs.130/- as charged by cable / DTH operator may apply. **GST extra.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Sun Pharma 431.00 2.88
ITC 277.30 -4.30
Reliance 1,226.30 -0.72
Yes Bank 197.25 2.63
ICICI Prudentia 305.40 -11.48
Company Price Change %Gain
Sun Pharma 430.75 3.04
Yes Bank 197.30 2.71
Ratnamani Metal 874.10 -4.41
Hathway Cable 31.70 3.09
ITC 277.70 -4.16

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results