Provident Funds and Pension Funds have 9134 crore exposure to IL&FS and its Group entities, IL&FS has said in its affidavit to NCLAT
The Serious Fraud Investigation Office SFIO has initiated investigations into a whistle-blower complaint sent by a Deloitte employee and will summon its top officials for questioning to find out whether the Infrastructure Leasing & Financial Services IL&FS groups auditor deliberately ignored several red flags in the companys books recommended creating complex structures and in quid pro quo received substantially high fees from the bankrupt company.
To protect the investments of pension funds and provident funds, the NCLAT has sought the details of investments of such funds in the "Amber" Companies of IL&FS
Gail India is a front runner to acquire the Energy Assets of IL&FS. The Assets could fetch close to Rs 6000-8000 crore and include controlling stake in the wind power generating plants
The Managing Director and CEO of Gift City has to step down as IL&FS has decided to discontinue his services as it could no longer afford to pay his salary
Days before IL&FS defaulted on its loan payments in the last week of August, Mother Dairy Foods and Vegetable Private Limited decided to make a series of investments totaling Rs 190 crore in IL&FS.
Corporate Affairs Secretary Injeti Srinivas said the credibility of rating agencies has come under a cloud after the IL&FS crisis
Creditors can expect a fair distribution of Proceeds from the IL&FS Resolution Process, reports ET
The Board of IL&FS held its second press conference and shared an update on the Progress made in the last six months. The presentation made is enclosed
The Full Press Conference link - credit Bloomberg Quint