Government to step in to take control of troubled IL&FS: Reports
India`s government is moving to take control of Infrastructure Leasing and Financial Services (IL&FS), two television channels reported, in a rare move that underscores the extent of the troubles at the debt-laden financing and construction behemoth.
IL&FS announced on Sunday that its shareholders had approved a plan to raise funds via debt and equity issuances. Image source: Reuters