Despite crisis coming to a head at the IL&FS group, lenders are yet to meet collectively to take stock of the situation and take steps to limit the damage.
Central Bank of India is the lead banker to Infrastructure Leasing & Financial Services (IL&FS) Ltd, the holding company of the IL&FS group.
The gross debt of IL&FS Ltd stood at Rs 910 billion.
IL&FS on September 10 defaulted on a repayment of Rs 1 billion to Small Industries Development Bank of India (SIDBI, not rated). This came after a series of defaults starting on August 28, when IL&FS Financial Services, one of its