IL&FS board appoints financial, restructuring advisors for turnaround plan

JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward

The new board of Infrastructure Leasing & Financial Services (IL&FS) took the first big step towards reviving the debt-ridden company by appointing two financial and transaction advisors and a restructuring advisor. 

Arpwood Capital and JM Financial Consultants, the appointed financial advisors, will help the board with transaction and monetisation decisions. It will help the firm in reaching valuation numbers of proposed disinvestments, including stake sales, that the new board is likely to take in the coming weeks.

Alvarez & Marsal, on the other hand, will assist “in maintaining strict controls on and managing liquidity on a day-to-day basis at all levels in