Ilfs

Micro enterprises best placed to help economy come out of COVID-19 crisis; eligible to get financial aid from credit institutions: Report

The state-run lenders gained market share in 2019, adding that public sector banks now account for 49% of the MSME lending and over 59% of the lending to the micro enterprises.

Bombay HC quashes prosecution against 2 former IL&FS audit firms; says SFIO complaint filed before special court bad in law

In June last year, the ministry of corporate affairs had moved the NCLT against BSR and some of the then external auditors of IL&FS alleging professional misconduct.

Yes Bank crisis: Anil Ambani summoned by ED in connection with money laundering probe

Anil Ambani was asked to depose at the Enforcement Directorate office in Mumbai on Monday as his group companies are among the big entities whose loans went bad after borrowing from the crisis-hit bank.

NCLAT accepts fresh 'pro-rata distribution' framework for IL&FS creditors; says resolution should be 'fair and equitable'

The NCLAT has also directed to complete the resolution plan according to the revised framework as suggested by the central government within 90 days

No F&O contracts for Yes Bank from 29 May; NSE not to accept fresh bank guarantees by lender

NSE said that due to the recent development in Yes Bank, it has been decided that no fresh or renewal of bank guarantees and fixed deposit receipts issued by Yes Bank limited shall be accepted.

NCLAT dismisses Deloitte, KPMG pleas against impleadment in IL&FS matter; allows operation of 29 July interim order for two weeks

On 29 July, the NCLAT stayed the order of the Mumbai bench of the NCLT to implead the auditors and the independent directors of IL&FS.

Govt approaches NCLAT; seeks additional 270 days to complete resolution for 105 IL&FS group companies

Certain protection and reliefs were granted to the 55 entities through an order passed by the National Company Law Appellate Tribunal (NCLAT) on 15 October, 2018

Capital Float raises $15 million from investors including Sequoia Capital, Ribbit Capital, among others

'Less is more’ to be the guiding principle for 2020 for the digital lender

Financial system stable despite weakening economic growth; reviving consumption, investment a major challenge: RBI

The PSBs need to build stronger buffers to absorb any disproportionate operational losses, while private lenders need to focus on corporate governance, the RBI said.

IL&FS scam: SEBI slaps Rs 25 lakh fine each on ICRA, CARE; flays rating agencies for failing to exercise due diligence

The Securities and Exchange Board of India (SEBI) also said the default by IL&FS occurred due to "lethargic indifference and needless procrastination and laxity" of these rating agencies.