You are here: Home » News-IANS » Business-Economy
Business Standard

Sale of IL&FS group among multiple options: Official

IANS  |  New Delhi 

The government is considering the sale of IL&FS as a group among other options as a way out for the defaulting infrastructure lending company, Corporate Affairs Injeti said on Monday.

He, however, noted that selling the group as a whole might not be an easy task.

"As far as IL&FS is concerned, the report which was submitted to the NCLT (National Company Law Tribunal) articulates the approach. So, it could be the best scenario IL&FS as a group enterprise being sold as a going concern," told reporters at the sidelines of an event organised by the

"That is the best scenario case. But there are serious issues and the likelihood of such an outcome is limited," he added.

The two other alternatives looked at are separate sale of its verticals and sale of its assets, according to

The said that the government may eventually go ahead with a combination of all the three options.

"What seems most probable is that you will have a combination of all the three approaches. All the three approaches in some sort of permutation-combination can ultimately be the way out," Srinivas told reporters.

The government last week submitted its report on the IL&FS matter to the bench of the NCLT, outlining its plans for the debt-laden company.

Regarding actions taken to address the liquidity concerns in Non-Banking Financial Companies, he said: "It has been made very clear that the government and the central are taking adequate measures to address the immediate sectoral concerns."

--IANS

rrb/mr

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 05 2018. 14:26 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU