The ten companies in the green category, for which the new directors of IL&FS
have initiated the sale process, include Lalpur Wind Energy Private Limited, Etesian Urja Limited, ONGC
Tripura Power Company Limited, IL&FS
Paradip Refinery Water Limited, IL&FS
Solar Power Limited, Mangalore SEZ Limited, and IL&FS
Technologies Limited. Of the total subsidiaries of IL&FS, only 11 remain to be classified.
Outstanding loans of the IL&FS
group are about Rs 60,000 crore, while its overall debt
is over Rs 91,000 crore. IL&FS
was taken to NCLT
under the provisions of the Companies Act in October 2018. The original board was replaced with a government-appointed board. The government replaced the IL&FS
board in October last year with six select nominees and moved the company to the National Company Law Tribunal (NCLT) for insolvency proceeding.