IL&FS is set to sell its stakes in three road projects – Baleshwar-Kharagpur Expressway, Jharkhand Infrastructure Implementation Company and Jharkhand Road Projects Implementation Company – as part of its resolution process. The company’s board faced challenges in obtaining approvals to transfer these assets to an InvIT, prompting the decision to sell. The move aims to address a combined debt of Rs 35 billion across these projects.
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