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NEW DELHI: Debt-laden IL&FS accumulation firms are affairs high-end cars, appointment furniture, electrical accessories and added assets in a bid to accession funds.

The Basement Leasing & Financial Services (IL&FS) and its assorted accumulation firms accept arrive bids to advertise 36 affluence cars, including brands like Audi, BMW, Jaguar, Mercedes Benz, Land Rover, Honda, Toyota and Skoda.

IL&FS has set a abject amount of a little beneath than Rs 9 crore for these vehicles.

In a abstracted bid document, IL&FS arrive bids for agglomeration sum auction of acclimated appliance and white appurtenances on ‘as is area is’ base at its backdrop in Mumbai and Kolkata.

The accumulation is adverse a austere clamminess crisis and has defaulted on assorted debt repayments back August 27.

The IL&FS accumulation sits on a debt accumulation of over Rs 90,000 crore.

The government had abolished the lath of IL&FS and brought in acclimatized broker Uday Kotak to beacon the accumulation out of its present crisis.

State-run LIC is the better actor owning a fourth of the firm’s equity, while added shareholders accommodate Orix Corporation of Japan, Abu Dhabi Investment Authority, Central Bank of India, and SBI.

Over the years, the aggregation has invested over Rs 1,89,000 crore in basement projects, primarily in apparent transport, activity and burghal infrastructure.

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