On the IL&FS Crisis (India)
In 2018, Infrastructure Leasing & Financial Services Limited (IL&FS), a private Indian company, began defaulting to lenders. This company is known for having completed some of the biggest public infrastructure projects of India. The Government of India responded by having two major Government owned shareholders of the company, the State Bank of India and the Life Insurance Corporation of India, inject Rs. 7500 crore (US$ 1056.34 million) claiming that this would ensure “Government control” of the debt ridden company, which...