"RBI wants details of the plan for future or corrective action which are to be taken," another source said.
The next date for meeting has not been decided yet, the source added.
IL&FS's annual general meeting is scheduled for September 29 here.
LIC and Orix Corporation of Japan are the largest shareholders of IL&FS with 25.34 and 23.54 per cent stake, respectively, while Abu Dhabi Investment Authority, HDFC, Central Bank of India and SBI hold 12.56 per cent, 9.02 per cent, 7.67 per cent and 6.42 per cent, respectively.
IL&FS group is facing serious liquidity crisis and has defaulted on interest payment on various debt repayments since August 27. It has over Rs 910 billion in debt.
The company needs an immediate capital infusion of Rs 30 billion and is planning a Rs 45 billion rights issue.
At a meeting held earlier this month, the key shareholders of the debt-ridden company, including LIC, SBI and HDFC, had kept a pre-condition for it to raise funds through its assets or non-core businesses, before any additional money could be pumped in.
There have been reports that IL&FS has even put on block its headquarters in the city for around Rs 13 billion.
On September 4, it came to light that IL&FS had defaulted on a short-term loan of Rs 10 billion from Sidbi, while its subsidiary has also defaulted Rs 5 billion dues to the development finance institution.
On Monday, IL&FS Financial Services also defaulted on repayment of commercial papers due that day.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.