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IL&FS Transportation’s arm receives approval for initiation voluntary insolvency proceedings

28 Jan 2019 Evaluate

IL&FS Transportation Networks’ material subsidiary -- Elsamex SAU, Spain has received approval from Board of Directors for initiation of voluntary insolvency proceedings in Spain. The board has conducted a detailed analysis of the evolution of Elsamex, the financial risks, the lack of liquidity to meet the due dates and the latest court resolutions

IL&FS Transportation Networks is an India-based surface transportation infrastructure company. The company is a developer, operator and facilitator of surface transportation infrastructure projects, taking projects from conceptualization through commissioning to operations and maintenance under public to private partnership on build-operate-transfer (BOT) basis.

Peers
Company Name CMP
Larsen & Toubro 3654.10
Kalpataru Projects 1344.15
NCC 127.60
Rail Vikas Nigam 194.50
KEC International 343.35
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