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IL&FS liquidity crisis: Lenders yet to take stock of situation

The gross debt of IL&FS Ltd stood at Rs 910 billion

il&fs, ifin
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On September 14, IFIN defaulted for the second time on redemption of ~1.05 billion of commercial paper

Abhijit Lele Mumbai
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

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