IL&FS board submits progress report on group's asset monetisation process

Another eight business verticals have been identified where the group can do away with redundant roles

The Infrastructure Leasing & Financial Services (IL&FS) board submitted its fifth progress report, underlining the steps being taken to pare the group’s debt and the status of the asset monetisation process.

The report was shared with the National Company Law Tribunal on Tuesday and the appellate tribunal on Wednesday. The report says so far, 55 of the 169 entities are classified as green, which means they can meet their debt obligations.

Thirteen are classified as amber entities, which can only meet operational payment obligations and 82 are classified as red entities, unable to meet any debt obligation. Eleven entities