IL&FS now plans to raise equity capital of Rs 45 billion. :
Just two days before its annual general meeting on Saturday, the beleaguered IL&FS has scrapped Re 1 per share dividend to its shareholders. Just a month ago, IL&FS had earlier reduced its dividend from Rs 6 to Re 1 per share. The dividend was scrapped after its debenture trustee – Centbank Financial Services did not give permission to offer dividend to its shareholders. Centbank's action came after the company defaulted on its debentures.