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Access here alternative investment news about Update 3-india Takes Control Of Infrastructure Group Il&fs To Stem Contagion | Reuters
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Update 3-india Takes Control Of Infrastructure Group Il&fs To Stem Contagion | Reuters

by reuters.com posted 2weeks ago 14 views
* Company had planned to raise funds via debt, equity (Adds details from NCLT ruling, background,): MUMBAI, Oct 1 (Reuters) - India on Monday took control of Infrastructure Leasing and Financial Services (IL&FS), in a rare move that it said was needed to protect the country’s financial system and markets from potential collapse. The government applied to the National Company Law Tribunal (NCLT) on Monday to remove the board of IL&FS, warning that the continuance of the current directors in their jobs would be prejudicial and not in the interest of the public.

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