Is LIC bailing out debt-laden IL&FS?

In what could end up as one of the biggest bailouts in the financial sector, without portraying it as such, Life Insurance Corporation of India (LIC) is stepping in to ‘take charge of’ Infrastructure Leasing & Financial Services (IL&FS), an unlisted infrastructure behemoth with scores of complex subsidiaries, some of which are listed and a giant load of debt, the full details of which are not easily available in the public domain. It may be recalled that Ajay Piramal, a deal-hungry but astute acquirer, did a due diligence of IL&FS in 2015 but backed out. By then, even insiders felt.....

Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.

Most Read

Top Stories

Markets

Companies

Opinion

Latest News

Todays Paper

News you can use

Outbrain