In the news
19 Apr 2019

Former CEO of ILFS Financial sent to Judicial custody

Former IL&FS Financial Services CEO and MD, Mr Ramesh Bawa, has been sent to judicial custody by a magistrate in Mumbai.

In the news
17 Apr 2019

Bank must tag IL&FS account as NPA under default

RBI on Tuesday told the NCLAT that banks will have to classify the accounts of debt ridden IL&FS accounts and its Group companies as NPAs in terms of its master circular and the Supreme Court judgement

In the news
17 Apr 2019

Former IL&FS CMD's judicial custody extended till April 30

The Bombay High Court held the order by the Metropolitan court of sending Mr Hari Sankaran to Judicial custody as illegal. However, Mr Sankaran's custody was extended till April 30

In the news
17 Apr 2019

SFIO finds Deloitte due diligence below par in IL&FS arm audit

SFIO has found the audit of Deloitte Haskin and Sells did not exercise adequate due diligence while auditing the books of IL&FS arm

In the news
15 Apr 2019

IFIN CEO had direct role in diverting 17.5 cr: SFIO

SFIO has told the Mumbai Court that Ramesh Bawa, CEO and MD of IFIN, played a direct role in diverting as much as Rs 17.5K crore to make the accounts of certain borrowers and group companies look healthy

In the news
15 Apr 2019

Ousted IL&FS Execs may loose Bonus

The Government is looking to claw back bonuses and other benefits that accrued to the ousted top executives of IL&FS for leaving the company in a financial mess

In the news
14 Apr 2019

CEO of IL&FS arm held for loan approval irregularities

SFIO on Saturday arrested IL&FS Chief Ramesh Bawa for alleged irregularities in sanctions and disbursement of loans

In the news
14 Apr 2019

IL&FS Trans cannot service Rs 1050 cr loan

Of the 22 Road Assets of IL&FS Transport which are slated to get bidding next month, four have an unserviceable debt of Rs 1050 crore.

In the news
12 Apr 2019

Provident pension funds have 9134-cr exposure to IL&FS group companies

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

In the news
12 Apr 2019

Deloitte faces SFIO probe in IL&FS case

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.

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