IL&FS panel to finalise asset-wise framework of resolution with lenders

The board of Infrastructure Finance and Leasing Services (IL&FS) has decided to set up a six-member empowered committee to finalise the asset-wise framework of resolution with lenders.

The six-member committee includes IL&FS board members Vineet Nayyar, C S Ranjan, Bijay Kumar, and the chief operating officer (COO) N Srinivasan among others.

“The committee will be fully empowered to take necessary steps to enhance enterprise value of assets under divestment,” the company said in a statement.

The directors held a meeting on June 28, 2019. This committee is formed in view of positive response received from financial institutions to the framework outlined, by Prudent