 "IL&FS")
Creditors of India’s troubled Infrastructure Leasing & Financial Services Ltd. will be closely watching for signs of support from key shareholders at meetings that are coming up after bonds jumped on expectations of backing.
The Reserve Bank of India plans to meet the largest stakeholders of IL&FS group on Friday, according to people with knowledge of the discussions. The shadow lender is also scheduled to hold an annual general meeting on Saturday.
“The main catalyst that investors are looking for at upcoming meetings is whether IL&FS will get support from its shareholders including Life Insurance Corp.,” said Mihir Chandra, head analyst at
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