IL&FS' business model was predicated on creating SPVs to conduct business and the majority of such entities are in a financial disarray. In Maharashtra alone, IL&FS Group has 88 such SPVs like Khambhat Port Ltd, Charminar Robopark Ltd, East Hyderabad Expressway, etc.from Banking/Finance-Industry-Economic Times http://bit.ly/2FFvXed
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