IL&FS entities to be sold individually instead of whole company together

Govt likely to cite the current situation, including availability of funds in escrow accounts of certain IL&FS companies, for seeking the special dispensation

IL&FS entities will be sold individually instead of the whole company together, a senior government official said. The debt-ridden firm could expect a final resolution within six months, the official from the Ministry of Corporate Affairs (MCA) said, after a meeting of officials from his ministry and the finance ministry with lenders to the IL&FS.
 
Other officials said the government plans to approach the Reserve Bank of India (RBI) to seek deferring the provisioning for some of the IL&FS entities. It has been found that a number of companies under IL&FS have not been able to service debt.