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
The Serious Fraud Investigation Office (SFIO) has made its first big arrest in the IL&FS by taking its former vice-chairman Mr Hari Sankaran into custody today.
The position of Independent Directors in IL&FS and its Group companies, once a prized job for retired bureaucrats and top corporate executives, has lost its shine - as many as 77 positions are vacant and there are few takers
IL&FS defaults highlights the need to tighten the regulatory framework governing Credit Rating agencies
Board of IL&FS wants immunity for Directors, Financial Advisors from any Financial, Legal or Regulatory Liability. ET Reports