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Govt likely to facilitate sale of IL&FS assets to PSUs, says report

Govt likely to facilitate sale of IL&FS assets to PSUs, says report

Govt likely to facilitate sale of IL&FS assets to PSUs, says report
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By CNBC-TV18 Sept 24, 2018 1:11:25 PM IST (Published)

The government may facilitate the sale of assets of Infrastructure Lending & Financial Services’ (IL&FS) to public sector enterprises in order to raise capital to fund its liquidity requirements, The Economic Times reported.

The government may facilitate the sale of assets of Infrastructure Lending & Financial Services’ (IL&FS) to public sector enterprises in order to raise capital to fund its liquidity requirements, The Economic Times reported.

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The government is willing to help out IL&FS as it is considering the implications of the company going bankrupt and the fact that it is implementing big-ticket infrastructure projects such as the Rs 6,800-crore Zoji La Tunnel in Jammu & Kashmir, the report said citing an unnamed government official.
IL&FS claims that the National Highway Authority of India (NHAI) owes Rs 16,000 crore by concession-granting authorities, which would help the company solve its liquidity problem, the report said.
The development comes after the Reserve Bank of India (RBI) has asked IL&FS’ shareholders to come up with a revival plan by September 28. The defaults by IL&FS triggered fresh concerns over non-performing loans and rocked the stock markets.
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