In the news
5 Feb 2019

IL&FS companies to be grouped on payment ability

The National Company Law Appellate Tribunal has asked the government and IL&FS to provide a list of group companies that have the ability to meet payment obligations in the next 12 months. In what would lead to immediate repayment of Rs 7,000 crore, the new board of IL&FS proposed final resolution plan to split the group companies into three categories based on 12 months’ solvency and cash flow.

In the news
1 Feb 2019

IL&FS puts Tamil Nadu power plant on the block

IL&FS has put its Tamil Nadu power assets on the block. A power plant in Tamil Nadu, a port and a coal mine in Indonesia — together estimated at around Rs 10,000 crore, are on sale.

In the news
23 Jan 2019

IL&FS SPV downgrade hits 6 debt mutual fund schemes

Six debt mutual fund schemes from three MF houses have been placed under a ratings watch with negative implications by ICRA for their exposure to debentures issued by special purpose vehicles (SPVs) of troubled infrastructure financing company IL&FS.

In the news
23 Jan 2019

IL&FS may select Grant Thornton for forensic probe

Troubled infrastructure developer and lender Infrastructure Leasing & Financial Services is close to hiring Grant Thornton to investigate alleged irregularities in its operations.

In the news
23 Jan 2019

FinMin to seek special treatment for IL&FS loans

After the Reserve Bank of India (RBI) refused to allow banks to defer provisioning for IL&FS-related loans, lenders have now approached the Finance Ministry's department of financial services to exert pressure on the central bank.

In the news
23 Jan 2019

Edelweiss, India Infoline look to buy IL&FS unit

IL&FS Investment Managers has drawn interest from Edelweiss, India Infoline and Altico Capital, an industry source close to the development said.

In the news
23 Jan 2019

World Bank steps in to defuse IL&FS Ethiopia crisis

In a bid to end the crisis facing IL&FS employees in Ethiopia, the World Bank has asked the Ethiopian Roads Authority to look for a resolution at the earliest. The project, being executed by an IL&FS joint venture in Ethiopia, is funded by the World Bank.

In the news
16 Jan 2019

IL&FS staffers stay captive in Ethiopia as bank raises hurdle

After spending 50 days in captivity, Chaitanya Hari, an engineer with IL&FS Transportation Network Ltd (ITNL) in Ethiopia, was hoping to be released on Tuesday to be home in time for his sister’s wedding next week.

In the news
16 Jan 2019

2 IL&FS subsidiaries seek refund of debt repaid after 15 Oct

Two subsidiaries of IL&FS Transportation Networks Ltd (ITNL) have decided to stop debt repayments and have sought refunds of debt repaid after 15 October, India Ratings said Tuesday, warning such action would lead to a default rating and threaten infrastructure project finance using special purpose vehicles.

In the news
16 Jan 2019

Provident funds face crores in losses from IL&FS

Provident and pension funds of thousands of middle-class salaried people face the spectre of losing thousands of crores of their nest egg as analysts estimate these funds’ investments in Infrastructure Leasing & Financial Services and group companies to be between Rs. 15,000 to Rs 20,000 crore, said three people familiar with the matter.

Load more