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IL&FS Default: When Indian Govt Repaid Loans Backed by Sovereign Guarantee! moneylife.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneylife.in Daily Mail and Mail on Sunday newspapers.
WHAT IS IL&FS CRISIS IL&FS Crisis Infrastructure Leasing & Financial Services (IL&FS) is a non-banking financial company (NBFC), or shadow bank . Established over 30 years ago, the conglomerate funds infrastructure projects across India. Some of the projects it has helped develop are 9-km Chenani-Nashri tunnel (India’s longest road tunnel), Delhi-Noida Toll Bridge, Ranchi-Patratu Dam Road, Baleshwar-Kharagpur Expressway, Tripura Power Project, and Gujarat International Finance Tech-City (GIFT).
Among IL&FS shareholders are LIC, SBI, Japan s Orix Corporation, HDFC and CBI. The subsidiaries of IL&FS include transportation network subsidiary IL&FS Transportation Networks Ltd (ITNL), engineering and procurement company IL&FS Engineering and Construction Co Ltd and financier IL&FS Financial Services Ltd. ....