Ilfs Crisis

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Ilfs Crisis - Total results - 67
IL&FS crisis: Efforts underway to stabilise the system, normalcy to return in couple of weeks: SBI Chief Rajnish Kumar
Business

IL&FS crisis: Efforts underway to stabilise the system, normalcy to return in couple of weeks: SBI Chief Rajnish Kumar

Responding to a question on IL&FS and the impact of shadow banking on the Indian economy, Kumar said since it is an NBFC, it has had a contagion effect.

Chartered accountants' body indicates not receiving information from SFIO, various agencies on IL&FS crisis
Business

Chartered accountants' body indicates not receiving information from SFIO, various agencies on IL&FS crisis

The Institute of Chartered Accountants of India (ICAI) has constituted a nine-member panel to study the systemic issues in the IL&FS crisis, amidst the government stepping up efforts to address problems related to the case.

State of the economy: IL&FS crisis could spread to other NBFCs if resolution doesn’t come fast, says Siddharth Purohit
Business

State of the economy: IL&FS crisis could spread to other NBFCs if resolution doesn’t come fast, says Siddharth Purohit

Siddharth Purohit, research analyst at SMC Global securities, speaking at Firstpost State of the economy dialogues, an interview series where experts analyse the economy

NBFC liquidity crisis rattles realty sector; may hit demand-supply and fund inflows to developers: Report
Business

NBFC liquidity crisis rattles realty sector; may hit demand-supply and fund inflows to developers: Report

The NBFC sector is under crisis since last month when it came to light that IL&FS group defaulted on short-term loans.

NBFC crisis may delay real estate sector's much-anticipated recovery as loan disbursals to developers slow down
Business

NBFC crisis may delay real estate sector's much-anticipated recovery as loan disbursals to developers slow down

Besides the financial sector, the real estate business may also face the heat due to the ongoing crisis in NBFC sector, triggered by IL&FS default.

Banks spiked loan exposure to NBFCs by one lakh crore in March, months before IL&FS crisis hit financial markets
Business

Banks spiked loan exposure to NBFCs by one lakh crore in March, months before IL&FS crisis hit financial markets

Banks lent a whopping Rs one trillion in Feb-March to NBFCs, only months before il&fs crisis hit markets

IL&FS revival plan: New board could include stake sale says govt official, rules out budgetary support
Business

IL&FS revival plan: New board could include stake sale says govt official, rules out budgetary support

The revival plan could include selling big stakes in its businesses, including IL&FS Financial Services and IL&FS Energy Development, or even “closing” them, the official said.

Uday Kotak-led IL&FS board to meet for second time today; to focus on fund-raising, other issues
Business

Uday Kotak-led IL&FS board to meet for second time today; to focus on fund-raising, other issues

The newly constituted board of Infrastructure Leasing and Financial Services (IL&FS), headed by veteran banker Uday Kotak, will meet for the second time Friday to decide on the further course of action plan for the cash-crunched company

IL&FS loan account remains standard; continues to lend to NBFCs and HFCs says Bank of Baroda
Business

IL&FS loan account remains standard; continues to lend to NBFCs and HFCs says Bank of Baroda

Cash-strapped IL&FS is facing serious liquidity issues and it, along with its subsidiaries, has defaulted on various debt repayments

IL&FS crisis: SBI to buy assets worth Rs 45,000 cr from NBFCs to resolve liquidity crunch
Business

IL&FS crisis: SBI to buy assets worth Rs 45,000 cr from NBFCs to resolve liquidity crunch

State Bank of India (SBI) said on Tuesday it will buy good quality assets worth Rs 45,000 crore from NBFCs that are facing liquidity crunch triggered by a series of debt repayment defaults by financial conglomerate IL&FS and its subsidiaries.

IL&FS crisis: Reserve Bank welcomes government intervention, offers full help to new management
Business

IL&FS crisis: Reserve Bank welcomes government intervention, offers full help to new management

RBI is looking at strengthening the guidelines to avoid situations of asset liability mismatches by non-bank lenders, especially infrastructure financing NBFCs dependent on short term liabilities like commercial papers

IL&FS board was aware about need for capital infusion three and half year ago, says former independent director Jaithirth Rao
Business

IL&FS board was aware about need for capital infusion three and half year ago, says former independent director Jaithirth Rao

Rao says that IL&FS had approached a Middle East based sovereign wealth fund and also a cash rich Indian group, but both plans didn't work at the end.

IL&FS group value to be preserved, says chairman Uday Kotak after five-hour board meet
Business

IL&FS group value to be preserved, says chairman Uday Kotak after five-hour board meet

After its maiden meeting, chairman of the new board Uday Kotak told reporters that the board will meet the IL&FS shareholders including state-run LIC which has 25.34% stake, Orix Corporation of Japan with over 23.7% stake, HFC, SBI and Central Bank, at an appropriate time

Maruti Suzuki chairman RC Bhargava says will not step down from the company's board over IL&FS crisis
Business

Maruti Suzuki chairman RC Bhargava says will not step down from the company's board over IL&FS crisis

RC Bhargava is among the 10 former directors of IL&FS against whom the Ministry of Corporate Affairs has filed a petition to the National Company Law Tribunal (NCLT) alleging mismanagement and negligence as the firm defaulted on payments.

Govt determined to contain IL&FS crisis so that there is no adverse impact: Arun Jaitley
Business

Govt determined to contain IL&FS crisis so that there is no adverse impact: Arun Jaitley

The government earlier this week superseded the board of IL&FS, which has a debt burden of Rs 91,000 crore and has defaulted on series of loan repayments

Petrol, diesel prices cut updates: 10 states reduce fuel cost; Mamata says Centre not bothered about masses
Business

Petrol, diesel prices cut updates: 10 states reduce fuel cost; Mamata says Centre not bothered about masses

Arun Jaitley press briefing LIVE updates: Finance Minister Arun Jaitley will hold a press briefing today where he is likely to address a number of issues including the rising fuel prices especially after a last-minute meeting with oil minister Dharmendra Pradhan last evening

SFIO probe ordered into IL&FS: Risk committee met only once in last four years; governance loopholes observed
Business

SFIO probe ordered into IL&FS: Risk committee met only once in last four years; governance loopholes observed

There are several indicators which highlight the operational mismanagement and corporate governance loopholes in IL&FS

IL&FS crisis: Govt seizes control of debt-trapped firm; these are 15 members of board that were dismissed
Business

IL&FS crisis: Govt seizes control of debt-trapped firm; these are 15 members of board that were dismissed

Mumbai-bench of NCLT approved six directors, including Kotak Mahindra Bank MD Uday Kotak, former SEBI chairman GN Bajpai and ICICI Bank chairman GC Chaturvedi, to takeover the board

IL&FS crisis: Redemption pressure on mutual funds, capital inadequacy for smaller NBFCs among key concerns
Business

IL&FS crisis: Redemption pressure on mutual funds, capital inadequacy for smaller NBFCs among key concerns

In only the second instance in nearly a decade, the government has superseded the management of IL&FS where state-owned LIC is a major shareholder.