India's IL&FS said to plan $4.2b asset sale as defaults pile up

India's IL&FS said to plan $4.2b asset sale as defaults pile up

Pedestrians and shoppers walk past stores on a street in Varanasi, Uttar Pradesh, India, on Saturday, Oct. 29, 2017. Photographer: Dhiraj Singh/Bloomberg

Infrastructure Leasing & Financial Services Ltd., an Indian conglomerate that has missed payment on more than five of its obligations since August, is seeking to raise more than 300 billion rupees ($4.2 billion) selling assets to cut debt, according to an internal memo seen by Bloomberg.

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