IL&FS to auction its luxury cars

The Infrastructure Leasing & Financial Services (IL&FS) and its group companies are auctioning off its luxury cars to raise funds for repayments of debt of over Rs. 90,000 crore.

A total of 36 vehicles are on offer. These include cars from brands like Audi, BMW, Jaguar, Mercedes Benz, Land Rover, Honda, Toyota and Skoda. The company has set a base price of around Rs. 9 crore for these vehicles. Check out the full list of cars here.

In addition to its cars, IL&FS has also invited bids for its office furniture, electrical appliances and other assets. 

IL&FS has invested over Rs. 1,89,000 crore in infrastructure projects. Having defaulted on various debt repayments, the government had suspended the board of IL&FS and appointed to Uday Kotak to oversee the company.

Source: Live Mint