The company’s net worth at the end of last fiscal year was ₹7,400 crore and consolidated debt across group companies stood at about ₹1 trillion. Mumbai: Infrastructure Leasing and Financial Services Ltd (IL&FS), the unlisted parent to a cluster of companies in various infrastructure verticals, failed to raise immediate funds from shareholders at a snap board meeting on Friday. The board will reconvene on 15 September, said a person aware of the development. K. Ramchand, CEO of IL&FS, said the firm would raise another ₹4,500 crore in long-term borrowing from existing shareholders within the next one month. The company’s net worth at the end of last fiscal year was ₹7,400 crore and consolidated debt across group companies stood at about ₹1 trillion.

Source: Mint September 07, 2018 17:48 UTC