Cash-strapped IL&FS wants government to bail it out4 min read 22 Oct 2018, 05:53 AM IST
Talks of an IL&FS government bailout were necessitated following failed attempts by the company to raise ₹4,500 crore through a rights issue
Mumbai: The Union government may have to bailout cash-strapped Infrastructure Leasing and Financial Services (IL&FS), if latest discussions between the group’s board and the government are any indication, according to three people familiar with the development. This has been necessitated following failed attempts by the company to raise ₹ 4,500 crore through a rights issue. If the government does heed the appeal from IL&FS, this would be its second intervention in the company after having recently superseded the board.
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