 "IL&FS, Infrastructure Leasing and Financial Services, Mumbai")
The government-nominated board of beleaguered Infrastructure Leasing & Financial Services (IL&FS) has effectively ruled out a resolution at the group level and is looking to pursue a business-specific plan. The board, in its second progress report submitted to the National Company Law Tribunal (NCLT), Mumbai, has listed the various steps being taken or planned to revive the infrastructure financier.
On the assessment of a group-level resolution, the board said, “Based on an outreach conducted by the financial and transactional advisors (to potential investors who could have the ability to undertake and execute such a transaction), the initial assessment seems to indicate
