 "IL&FS")
The Uday Kotak-led board of Infrastructure Leasing and Financial Services (IL&FS) had informed the National Company Law Tribunal (NCLT) on Monday that a single group-level resolution for the crisis and the Rs 910-billion debt seems tough and it will focus on vertical as well as asset-level resolution.
Through the group-level resolution, the board was looking at a significant capital infusion from strong investors.
"Based on an outreach conducted by the FTA, the initial assessment seems to indicate that currently, the group-level resolution option is unlikely to materialise," the board said in its second report on progress and way forward submitted
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