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Wednesday, September 30, 2020

IL&FS to put its engineering arm on the block

IECC comes under the ‘red’ category of subsidiaries, which means that the beneficiaries of the resolution process will be its largest lenders. These include SBI, ICICI Bank and IL&FS Group. The company has an outstanding debt of Rs 4,700 crore, part of which is owed to the promoter group.

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