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Centre 'fully Committed' To Ensure Liquidity Support To Il&fs, Says Finmin | Business Standard News

by business-standard.com posted 11months ago 30 views
Turning the group around will require a combination of asset sales and fresh fund infusions by investors and lenders. : The Indian government, which seized control of debt-laden financier Infrastructure Leasing & Financial Services Ltd., has pledged to ensure the beleaguered lender has the money to prevent further defaults. Superseding the board of IL&FS, which has defaulted on more than five of its obligations, was essential to restore the confidence of the financial markets, according to a statement by the finance ministry on Monday.

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