IL&FS insiders view on what led to the crisis

In 2015, a deal was almost finalised where Ajay Piramal would pick up stake in the group at Rs 750 per share. However, it did not go through as LIC — which is the main the shareholder with a 25.34 per cent stake — had stuck to a valuation of Rs 1,150.

from The Times of India https://ift.tt/2OqllnA