MUMBAI -- Troubled Indian shadow bank Infrastructure Leasing & Financial Services revamped its board Wednesday as part of an ongoing resolution plan for the business, which is saddled with debt totaling 993.54 billion rupees ($14.5 billion).
Companies
Indian shadow bank IL&FS revamps board after ex-chief's arrest
Debt-laden group seeks turnaround from defaults that rocked bond market
IL&FS's Mumbai headquarters. The infrastructure lender has struggled to extricate itself from a web of debts. © Reuters
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