Annual Outcomes

Govt exploring multiple options including sale of crisis-hit IL&FS: Official

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. However, there are serious issues and the likelihood of such an outcome is limited he said. 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. All the three approaches in some sort of permutation and combination can ultimately be the outcome, he said.

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