According to IL&FS, any binding transaction for the sale of assets, as well as the resulting resolution plan, will be subject to requisite approvals (including the NCLT) before the transactions are concluded.
According to sources, Garg asked his office to convene a meeting with the chairpersons of SBI, LIC and Central Bank soon after. While LIC owns 25.34 per cent in IL&FS, Central Bank of India and SBI hold 7.67 per cent and 6.42 per cent, respectively.
Earlier, India had asked Ethiopian authorities to investigate and help the seven Indian IL&FS employees who say they are being held by local staff due to non-payment of salaries, a government official said on Saturday.
Crisis-ridden Infrastructure Leasing & Financial Services (IL&FS) on Monday said it received more than a dozen expressions of interest for its stakes in subsidiaries IL&FS Securities Services and ISSL Settlement & Transaction Services.