In a fresh setback for debt-ridden IL&FS, rating agency Crisil has downgraded the non-convertible debentures of a road project in Jharkhand. To get a sense of how this would impact IL&FS, CNBC-TV18 spoke to Sandeep Parekh, founder of Finsec Law Advisors, TN Arun Kumar, ED of CARE Ratings and Lakshmi Iyer, CIO-debt at Kotak Mahindra AMC.
