The Government of India, through Ministry of Corporate Affairs, took management control of IL&FS Group and appointed a new Board in October 2018 in an effort to control defaults and restore confidence and financial stability in Capital Markets.

IL&FS Limited and IL&FS Financial Services Limited is amongst the first institutions to launch an Infrastructure Debt Fund (IDF) in partnership with Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), United India Insurance Company Limited (UII) and National Insurance Co Ltd (NIC)

• IL&FS Infra Asset Management Limited (IIAML), an Asset Management Company manages the IL&FS Infrastructure Debt Fund (IIDF)
• Distinction of being the first IDF in the country to successfully raise funds from investors
• India Ratings & Research (an affiliate of Fitch Ratings) and CARE Ratings have assigned the highest "AAA" rating to its first schemes
• Target investors for the fund are Banks, Pension funds, Insurance Companies, Foreign investors, Sovereign Wealth Funds and bilateral / multilateral associations
• Investment Objective aims to achieve superior risk adjusted return for investors through a mix of general and targeted schemes