In the news
16 Aug 2019

Red IL&FS companies account for nearly two-third of total debt

Out of the total group debt of Rs 89000 crore, as much as Rs 61,375 crore was held by over 82 entities that were not able to meet payment obligation even to senior secured financial lenders.

In the news
16 Aug 2019

Banks debited Rs 758 crore from IL&FS Accounts

Banks and Financial institutions debited more than Rs 758 crore from the accounts of IL&FS and its group companies from October 2018 to June 2019 despite orders from NCLAT, MCA has told NCLT in its filing

In the news
15 Aug 2019

EY and other audit firms also under lens

EY, the audit firm of ITNL, and its peers firms are facing questions from the state appointed board of its parent and the central fraud probe teams on the alleged irregularities at the unit of the stressed infrastructure financier.

In the news
15 Aug 2019

Grant Thornton alleges lapses in IL&FS deals with Allied Financial Services

Grant Thornton, which has conducted forensic audit of ISSL, has found what it alleges as multiple operational lapses and high value trade anomalies in the transaction with its client Allied Financial Services

In the news
15 Aug 2019

Fifth Progress Report - IL&FS Board details Group asset monetisation process

The Board of IL&FS submitted its fifth progress report underlining the steps taken to pare debt and detail the status of asset monetisation process

In the news
15 Aug 2019

IL&FS didn't disclose NPA for 4 years

The RBI has said the beleaguered IL&FS did not disclose any NPAs for four years and there was wide variations observed between the report assessed position of asset classification, while estimating the company's bad debt, at over 70% on March 31, 2018

In the news
13 Aug 2019

IL&FS crisis deals fresh blow to Ladakh road link

The endless wait for all-weather connectivity to Ladakh just got longer due to crisis at IL&FS pushing up the cost by over 20% or around Rs 1400 crore to over 8,200 crore

In the news
12 Aug 2019

IL&FS files Wind Energy sale proposal with NCLT for final approval (1)

IL&FS has moved NCLT for completing sale of its Wind Energy Business to Orix of Japan

Press release
11 Aug 2019

IL&FS files Wind Energy sale proposal with NCLT for final approval

IL&FS has filed the proposal to complete sale of its stake in the Wind Energy business, held under IL&FS Wind Energy Limited (IWEL) to ORIX Corporation of Japan, with NCLT for final approval. The proposal has been filed before the Tribunal after completing binding Share Purchase Agreement with ORIX Corporation and obtaining “in-principle” approval from all lenders for completing this transaction, subject to NCLT approval.

In the news
9 Aug 2019

NCLAT pulls up MCA, IL&FS board for delay in resolution

NCLAT on Thursday pulled up the MCA and the newly appointed Board of IL&FS for inordinate delay in presenting the final resolution plan for the debt laden firm

Load more