As IL&FS crisis deepens, here are top 10 developments in the unfolding saga

Infrastructure Leasing & Financial Services Ltd (IL&FS) and its subsidiaries are strapped for cash and have missed debt repayments, making investors and the credit markets jittery. Over the past three years, IL&FS’ total debt has jumped 44 per cent — to Rs 910.913 billion at the end of March 2018 from Rs 631.14 billion at the end of March 2015. There have been assurances of liquidity support and capital infusion, but in the absence of any concrete action so far, investors have started doubting the promises. The focus now is on the Reserve Bank of India's (RBI's) summons to IL&FS shareholders for a meeting on Friday.

Here are are the latest developments in the unfolding saga of the Infrastructure Leasing & Financial Services Ltd (IL&FS):

1. Govt seeks to calm markets

The government sought to calm markets on Monday and said it would take all measures to ensure adequate liquidity for non-banking financial companies (NBFCs) and mutual funds. Finance Minister Arun Jaitley tweeted that "the government will take all measures to ensure that adequate liquidity is maintained/provided to the NBFCs," referring to the non-banking financial companies. Jaitley's assurance came after the shares of housing finance companies came under a sudden heavy selling pressure on Friday amid crisis at IL&FS.