Crisis-hit IL&FS to start getting money from PSUs in a few months

IL&FS needs at least Rs 1 billion a month just to stay afloat

Public sector companies will start paying their dues to crisis-ridden Infrastructure Leasing & Financial Services (IL&FS) in 60 days, according to senior corporate affairs ministry officials.

They said while there would be no bailout from the government, it would ensure public sector entities such as the National Highways Authority of India (NHAI) pay in a timely fashion.

A senior official of the ministry said most of the exposure of IL&FS was to public sector undertakings and hence the easiest way of helping the company was asking them to pay without delay.

IL&FS needs at least Rs 1 billion a month