India is examining options including an outright sale of International Leasing and Financial Services Limited (DSE:ILFSL) (IL&FS), a person with knowledge of the matter said, as the government tries to stem defaults at IL&FS with $12.6 billion of debt. A plan to be presented to a bankruptcy court on October 31, 2018 by the state-appointed board of the lender includes selling the entire stake to a financially strong investor and ensure business continuity, the person said, asking not to be identified as the matter is private. Other options include splitting businesses according to verticals and disposing them off to several buyers or injecting liquidity at group level to avoid an outright sale. “While the matter is being heard in the court, the board could look at selling assets, both core and non-core, for infusing liquidity and ensuring timely loan repayments”, an official said.