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Il&fs Tells Staff Financial Mess Due To Rs16,000cr Stuck Funds | Business Standard News

by business-standard.com posted 2months ago 14 views
Crippled infrastructure development and finance company IL&FS has claimed that if funds worth Rs 16,000 crore stuck with concession authorities were released on time, it wouldn't have landed in the mess it is currently in. In a letter to its employees, a copy of which is with PTI, Infrastructure Leasing & Financial Services (IL&FS), which earlier this month had defaulted on a Rs 1,000-crore loan from Sidbi, has claimed that around Rs 16,000 crore of group liquidity is stuck in claims and termination payments.

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