New IL&FS board to meet on Thursday, discuss issues plaguing group

The board is likely to examine the balance sheet of the company, particularly its claim of Rs 1.15 trn worth of assets

The newly constituted board of Infrastructure Leasing & Financial Services (IL&FS) will hold its first meeting on Thursday in Mumbai to take stock of the situation at the beleaguered group, according to a senior official of the Ministry of Corporate Affairs. The board is also expected to discuss issues such as the appointment of the management team.

The Uday Kotak-led board, which is awaiting regulatory approvals from the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi), is likely to submit its preliminary assessment report by next week. It will also communicate with shareholders and