INSUBCONTINENT EXCLUSIVE:
The government replaced the company's entire board earlier this month.Mumbai: Troubled Infrastructure Leasing and Financial Services Ltd
(ILFS) said on Friday that its Board has initiated several austerity measures related to personnel and operating expenses at the company
After its first meeting last week, the newly constituted ILFS board, said that it would consider all available options to revive the
firm.The government replaced the company's entire board earlier this month after recent defaults on some of its debt obligations triggered
sharp declines in stock and debt markets, leading to fears about contagion in India's financial sector.The ILFS board also approved the
formation of an operating committee under its Vice Chairman and managing director Vineet Nayyar and "had detailed deliberations in relation
