Developing IndiA'S Infrastructure
IL&FS Transportation Networks Limited (ITNL), established in 2000 as a wholly owned subsidiary of Infrastructure Leasing and Financial Services Limited (IL&FS), is a major player in the infrastructure sector in India.
The company’s projects span across several segments including highways, metro rail, and urban transportation. It has successfully developed transportation infrastructure, including roads, metro rail, city bus services, and border check-posts across the country.
ITNL It is the largest Build-Operate-Transfer (BOT) road asset owner in India, with approximately 13,100 lane kilometers in its portfolio and has been involved in developing marquee infrastructure projects across India and abroad.
The company expanded internationally, with operations in Spain, Portugal, and Latin America through the acquisition of Elsamex S.A., a highway operations and maintenance company.
Post October 2018
In October 2018, the Government of India, through the Ministry of Corporate Affairs, took control of the IL&FS Group in a bid to resolve group's defaults of over Rs 98,000 crore debt, stop the contagion and restore financial stability in the financial sector and the Capital Markets.
A new Public Interest Board was put in place in October 2018, superseding the erstwhile Board, that has been working ever since towards resolving the biggest corporate financial crisis.
The new Board, as per the approved resolution framework, has been resolving the assets under ITNL by way of Monetization, Termination and Transfer to Invit.
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