India: IL&FS efforts to sell assets clouded by past failed attempts

India: IL&FS efforts to sell assets clouded by past failed attempts

Photo: Reuters

Infrastructure Leasing and Financial Services Ltd’s (IL&FS) bid to sell three of its units in the past two years to pare debt were stymied because of valuation mismatches and bureaucratic red tape, calling into question the group’s ongoing efforts to dispose of some of its biggest assets to meet immediate payment obligations and avoid bankruptcy.

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