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IL&FS selling its Tamil Nadu assets

IL&FS has put up 'For Sale' notice on its Thermal assets too after the same came up on their renewable assets. This is expected to bring in about Rs.10,000 crores against a large debt of over Rs.1 lak crores that the company has. When distress selling happens, the haircut could be quite phenomenal. And as usual, the tax payer and the guy who is saving money in the banks will end up paying for it! Long live the tax payer!

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