IL&FS board initiates austerity measures to tackle crisis
Updated : October 15, 2018 06:50 AM IST
The IL&FS board on Friday said they had begun cutting cost in staffing and unspecified operations as the first step in their efforts to revive the company.
IL&FS said that it had also approved the formation of an operating committee under vice chairman and managing director Vineet Nayyar and "had detailed deliberations in relation to the road map ahead".
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more