 "IL&FS")
With no clarity on immediate liquidity infusion and rights issue by shareholders, cash-strapped Infrastructure Leasing & Financial Services (IL&FS) in its board meeting on Saturday appointed global professional services firm Alvarez & Marsal to prepare a comprehensive restructuring plan for the group.
Hari Sankaran, vice-chairman and MD, IL&FS, said in a video statement that the board took four important decisions. Alvarez & Marsal would develop a detailed restructuring plan for the group to demonstrate to shareholders and lenders that it was self-sufficient in repaying its liabilities. So far, the IL&FS management had been working on its revival plan.
The company will continue
