India: HSBC files winding up plea against IL&FS unit

India: HSBC files winding up plea against IL&FS unit

People walk past a major branch of HSBC at the financial Central district in Hong Kong, China February 21, 2017. REUTERS/Bobby Yip

The Hongkong and Shanghai Banking Corp. (HSBC) Ltd has moved a winding-up petition against a subsidiary of IL&FS Transport Services Ltd (ITNL) in a Singapore court to recover dues of 1,060 crore, information from the Singapore government gazette showed.

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