Press release
25 Feb 2019

ITNL SECURES SAFE RETURN OF EMPLOYEES IN ETHIOPIA

IL&FS Transportation Network Limited (ITNL), a part of IL&FS Group, confirms that it has been able to secure safe return of its 4 employees, working on projects in Ethiopia, to India.

In the news
21 Feb 2019

IL&FS to be probed for money laundering

The Enforcement Directorate (ED) has registered a money laundering case in the matter concerning alleged financial irregularities in Infrastructure Leasing and Financial Services (IL&FS) Ltd.

In the news
18 Feb 2019

IL&FS to form creditors’ panel to assess dues

The board of Infrastructure Leasing & Financial Services will form committees of creditors at asset levels — the special purpose vehicles (SPVs) managing its projects — to assess their outstanding payments. It is also looking to appoint a claim adviser at the group level to coordinate the activity, people familiar with the matter said.

In the news
13 Feb 2019

With direct resolution of holding companies ‘unlikely’, IL&FS Board may sell group firms

The government and the board of directors of debt-laden Infrastructure Leasing and Financial Services (IL&FS) are looking at sale of individual group companies as they believe the direct resolution of vertical holding companies such as IL&FS Transportation Networks is “unlikely”.

In the news
13 Feb 2019

Parliamentary panel on finance seeks inquiry commission into IL&FS crisis

The parliamentary standing committee on finance has asked the government to set up a high-level inquiry commission to identify the reasons behind the Infrastructure Leasing & Financial Services Ltd (IL&FS) default crisis.

In the news
13 Feb 2019

Between 2014-2018: HNIs, family & EPF trusts subscribed to NCDs and preference shares of IL&FS

According to data accessed by The Indian Express, several high net worth individuals (HNIs); private family trusts; employees provident fund trusts of public and private firms too have subscribed to the non-convertible debentures (NCDs) and preference shares of Infrastructure Leasing and Financial Service (IL&FS) Ltd between 2014-2018 and are now keenly awaiting a resolution of the crisis at IL&FS Group.

In the news
12 Feb 2019

NCLAT allows 22 IL&FS group firms to service debt obligations

The National Company Law Appellate Tribunal has passed an order permitting 22 group companies of debt-laden Infrastructure Leasing and Financial Services (IL&FS) that were able to meet all payment obligations to service their debt obligations as per schedule. The NCLAT also lifted the moratorium on 133 IL&FS group companies incorporated outside the jurisdiction of India. If these companies fail to pay the obligations, lenders can take them to court and recover their dues.

In the news
11 Feb 2019

Taxman's Lens on Enso Stake in IL&FS Rail

The Income Tax department has issued a showcause notice to IL&FS Rail to seeking details on incriminating documents found on the premises and details about Enso Infrastructure Private Limited, which holds a 15% stake in the IL&FS unit.

In the news
9 Feb 2019

RBI should worry top entities financed IL&FS

Former RBI governor Y V Reddy has said that the central bank should be worried about top institutions financing sectors of the economy without knowing what they are doing. Referring to the country’s top financial entities like the State Bank of India and Life Insurance Corporation holding stakes in the now troubled IL&FS, Reddy said that liquidity is not a concern but it is just a cause.

In the news
9 Feb 2019

House panel raps rating agencies for not anticipating IL&FS situation

A parliamentary panel wants the finance ministry to spell out steps to make India’s credit rating agencies more accountable and transparent in the backdrop of the crisis at the highly rated finance firm Infrastructure Leasing & Financial Services (IL&FS).

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