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    Debt-laden IL&FS pitching for a government bailout: report

    Debt-laden IL&FS pitching for a government bailout: report

    Debt-laden IL&FS pitching for a government bailout: report
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    By CNBC-TV18  IST (Updated)

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    The government may have to bailout crisis-hit Infrastructure Leasing and Financial Services (IL&FS) similar to how the US government bailed out Lehman Brothers during the 2008 financial crisis, Mint reported.

    The government may have to bailout crisis-hit Infrastructure Leasing and Financial Services (IL&FS) similar to how the US government bailed out Lehman Brothers during the 2008 financial crisis, Mint reported.
    The bailout plan comes after several failed attempts by the company to raise Rs 4,500 crore through a rights issue, the report citing three people familiar with the development.
    IL&FS board, chaired by Uday Kotak, is likely to pitch the centre for a government bailout, said the report, which added that a TARP-like programme, followed by the US during the crisis or any other alternative scheme, may help.
    If the government accepts the appeal from the company, it will the second intervention in IL&FS after the government superseded the board, the report said.
     
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