IL&FS advisors redrawing its list of assets

Newly-appointed advisors to the IL&FS Group are redrawing the list of assets including road projects fetching regular annuities, which can be sold quickly to enhance liquidity and extricate operating units at the infrastructure financier out of a funds crunch. They will submit their plans by Saturday and the board will propose the plan before the NCLT on October 31. The IL&FS board has appointed Arpwood Capital and JM Financial as financial and transaction advisors to the IL&FS Group, and the firms are crafting the resolution plans. The new advisors are drawing up lists of assets with higher equity value that can be sold quickly to generate liquidity, said a source close to the development.

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