Ex-LIC boss made head of crisis-hit firm with â¹90,000cr debt
Former LIC Chairman SB Mathur has been appointed as the new Chairman of Infrastructure Leasing & Financial Services (IL&FS), which has outstanding loans of around â¹90,000 crore. The infrastructure financier has reportedly defaulted on inter-corporate deposits worth â¹450 crore to SIDBI. LIC and Japan's Orix Corp are the largest shareholders in IL&FS with stakes of 25.34% and 23.54%, respectively. 