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IL&FS Infrastructure & Finance Overview

Infrastructure Leasing & Financial Services Limited (IL&FS) is an Indian infrastructure development and finance company formed in 1987 by three financial institutions to provide finance and loans for major infrastructure projects. It operates through more than 250 subsidiaries and is one of India's leading infrastructure development and finance companies, focusing on catalysing innovative infrastructure projects and creating financial services. However, in September 2018, IL&FS Financial Services, a subsidiary, defaulted on bank loan repayments and failed to meet some of its corporate deposit obligations, leading its ratings to be downgraded.

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Vaishali Gupta
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78 views1 page

IL&FS Infrastructure & Finance Overview

Infrastructure Leasing & Financial Services Limited (IL&FS) is an Indian infrastructure development and finance company formed in 1987 by three financial institutions to provide finance and loans for major infrastructure projects. It operates through more than 250 subsidiaries and is one of India's leading infrastructure development and finance companies, focusing on catalysing innovative infrastructure projects and creating financial services. However, in September 2018, IL&FS Financial Services, a subsidiary, defaulted on bank loan repayments and failed to meet some of its corporate deposit obligations, leading its ratings to be downgraded.

Uploaded by

Vaishali Gupta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd

BACKGROUND OF IL&FS

Infrastructure Leasing & Financial Services Limited (IL&FS) is an Indian infrastructure


development and finance company.

It was formed in 1987 as an "RBI registered Core Investment Company" by three financial
institutions, namely the Central Bank of India, Housing Development Finance Corporation
(HDFC) and Unit Trust of India (UTI), to provide finance and loans for major infrastructure
projects.

It operates through more than 250 subsidiaries including IL&FS Investment managers, IL&FS
financial services and IL&FS Transportation networks India Limited (ITNL).

 IL&FS is a non-banking financial company (NBFC). Among IL&FS shareholders are LIC, SBI,
Japan's Orix Corporation, HDFC and CBI.

THE BUSINESS:

Infrastructure Leasing & Financial Services Limited is one of India's leading infrastructure
development and finance companies. Its central mandate is catalysing the development of
innovative world-class infrastructure in the country.

For over 25 years, They focused on commercializing infrastructure projects and creating value-
added financial services to become a proactive partner in India’s growth story.

Widely acknowledged as the pioneer of Public Private Partnership (PPP) in India, the IL&FS
Group has, through a variety of projects, benchmarked the private sector’s role in and
commitment towards infrastructure development in India.

Some of the projects it has helped develop are 9-km Chenani-Nashri tunnel (India’s longest
road tunnel), Delhi-Noida Toll Bridge, Ranchi-Patratu Dam Road, Baleshwar-Kharagpur
Expressway, Tripura Power Project, and Gujarat International Finance Tech-City (GIFT).

THE PROBLEM:

IL&FS Financial Services, a gathering organization, defaulted in installment commitments of


bank advances (counting premium), term and momentary stores and neglected to meet the
business paper reclamation commitments due on September 14. On September 15, the
organization revealed that it had gotten sees for postponements and defaults in adjusting a
portion of the bury corporate stores acknowledged by it. Subsequent to defaults, rating
organization ICRA downsized the appraisals of its present moment and long term borrowings.

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