Cash-strapped IL&FS with â¹91,000 cr debt to raise â¹15,000 cr
Shareholders of Infrastructure Leasing & Financial Services (IL&FS), which is under â¹91,000 crore of debt, approved plans to raise money through debt and equity. IL&FS plans to raise up to â¹15,000 crore through a non-convertible debt issue and increase its share capital to enable a rights issue. The IL&FS group has recently defaulted on interest payments on various debt repayments.