INSUBCONTINENT EXCLUSIVE:
and Financial Services (ILFS) said on Monday it has appointed two advisers for assisting them in its debt resolution exercise.The
newly-appointed board has chosen advisory firms, Arpwood Capital and JM Financial Consultants, which will provide financial and transaction
advisory as well as "undertake valuations across divestments and monetisation", the company said.The six-member ILFS board was formed to
revive the financier and infrastructure developer, which has 348 subsidiaries and Rs 91,000 crore ($12.4 billion) of debt.In a court-led
process earlier this month, the government replaced the entire board with its own set of people in order to find an early resolution to a
debt-default driven crisis.The board also appointed consultancy firm Alvarez and Marsal as restructuring advisers to the group, it said.($1
