The government had in December last year constituted a 'Committee of External Eminent Persons/Experts'' for dispute resolution without having to resort to the tardy judicial process

At present, to obtain a fuel retailing license in India, a company needs to invest Rs 2,000 crore in either hydrocarbon exploration and production, refining, pipelines or liquefied natural gas (LNG) terminals

Following a marathon first board meeting held last Thursday, it is learnt that the members will meet this week again to propose how the crisis can be resolved at the debt-ridden Infrastructure Leasing & Financial Services.

While assuring their \"complete support\", the independent directors say the government's action is the correct one as it enables reaching out to various counter parties, including debtors and creditors of IL&FS, from a position of strength and clarity.

The Mumbai bench of  National Company Law Tribunal (NCLT) on Monday found favour with government's arguments to oust the current board of Infrastructure Leasing & Financial Services (IL&FS).

The Indian government will offload its 10 per cent equity in Oil India Ltd (OIL) on Friday which may fetch the exchequer up to Rs 3,000 crore.