 "Logo of Aditya Birla Group")
The Aditya Birla group, which invested in IL&FS’ group companies via its mutual fund and non-banking finance company arms, is considering legal options to recover its funds from the beleaguered group.
While the Birla group’s non-banking finance company has already moved Delhi High Court to seek injunction against two road projects, the group plans to join the petition filed by IL&FS in the National Company Law Tribunal (NCLT) to recover debt.
While public sector banks have the highest exposure to IL&FS and its subsidiaries total debt of Rs 910 billion, the Birla group is among the largest private sector investors
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