Ilfs Group

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Ilfs Group - Total results - 49
IL&FS gets creditors' approval for sale of education business to Career Point Publications
Business

IL&FS gets creditors' approval for sale of education business to Career Point Publications

IL&FS Group on Tuesday said it has received approval from creditors for sale of education business to Career Point Publications Pvt Ltd (CPPPL)

RBI increases banks' loan exposure limit to single NBFC from 15% to 20% of its capital base
Business

RBI increases banks' loan exposure limit to single NBFC from 15% to 20% of its capital base

Banks' exposure to a single non-banking financial company (NBFC) is restricted to 15% of their available eligible capital base

Bank of Baroda posts Rs 710 cr net income in first earnings since merger with Dena, Vijaya Bank
Business

Bank of Baroda posts Rs 710 cr net income in first earnings since merger with Dena, Vijaya Bank

The lender is looking at raising Rs 6,000 crore, which includes Rs 4,500 crore from tier 1 bonds and Rs 1,500 crore from employees stock purchase scheme in the near-term

IL&FS probe: NCLT allows govt to prosecute auditors Deloitte, BSR; C Sivasankaran and 2 independent directors
Business

IL&FS probe: NCLT allows govt to prosecute auditors Deloitte, BSR; C Sivasankaran and 2 independent directors

The NCLT said the corporate affairs ministry can go ahead with the prosecution based on the findings of the probe

IL&FS eyes Rs 480 cr from sale of two towers at Gujarat International Finance Tec-City, invites EOI from investors
Business

IL&FS eyes Rs 480 cr from sale of two towers at Gujarat International Finance Tec-City, invites EOI from investors

The parent IL&FS owes close to Rs 1 trillion to over 50 banks and financial institutions

Despite NBFC crisis, financial system stable; NPAs fall sharply to 9.3% in FY19, says RBI's Financial Stability Report
Business

Despite NBFC crisis, financial system stable; NPAs fall sharply to 9.3% in FY19, says RBI's Financial Stability Report

On NBFCs, the regulator warned against potential stress and pitched for tighter regulation of the NBFCs and housing finance companies

IL&FS board extends deadline for claims submission to 20 June after NCLAT order
Business

IL&FS board extends deadline for claims submission to 20 June after NCLAT order

IL&FS said the new board initiated a comprehensive claims management process for 70 group entities through the launch of pan-India public notices on 22 May

IL&FS may file contempt case against nine banks for unauthorised withdrawals of about Rs 800 cr from firm's escrow accounts
Business

IL&FS may file contempt case against nine banks for unauthorised withdrawals of about Rs 800 cr from firm's escrow accounts

The banks made “unauthorised auto-deduction from IL&FS escrow accounts” in the last six months towards debt recovery

IL&FS crisis: Enforcement Directorate conducts fresh raids in Mumbai in connection with money laundering probe
Business

IL&FS crisis: Enforcement Directorate conducts fresh raids in Mumbai in connection with money laundering probe

The Enforcement Directorate on Wednesday carried out fresh searches in Mumbai in connection with its money laundering probe in the multi-crore IL&FS payment default crisis, officials said

ONGC, GIP, Tripura govt plan to buy IL&FS' 26% stake in Rs 3,804-crore OTPC power project in Palatana
Business

ONGC, GIP, Tripura govt plan to buy IL&FS' 26% stake in Rs 3,804-crore OTPC power project in Palatana

OTPC runs the Palatana power project in Tripura. ONGC has a 50 percent stake in the project, IL&FS holds 26 percent, and GIP has a 23.5 percent stake

Universal debt relief scheme: Govt planning to provide relief to small borrowers, micro-entrepreneurs, says Corporate Affairs Secretary Injeti Srinivas
Business

Universal debt relief scheme: Govt planning to provide relief to small borrowers, micro-entrepreneurs, says Corporate Affairs Secretary Injeti Srinivas

The Corporate Affairs Secretary said the cost of the scheme is unlikely to exceed Rs 20,000 crore, but will benefit millions in the very small-ticket loan category.

RBI withdraws circular asking banks to declare exposure to crisis-hit IL&FS
Business

RBI withdraws circular asking banks to declare exposure to crisis-hit IL&FS

Following an NCLAT order, the Reserve Bank of India (RBI) has withdrawn its circular asking banks and financial institutions to declare details of their exposure and provisions related to the crisis-hit IL&FS

IL&FS resolution on track; green cos' Rs 12,000 crore debt likely to be settled by July: Corporate Affairs Secretary
Business

IL&FS resolution on track; green cos' Rs 12,000 crore debt likely to be settled by July: Corporate Affairs Secretary

The board of IL&FS group, which is estimated to have a debt burden of over Rs 94,000 cr, was superseded by corporate affairs ministry in October last year

NCLAT allows banks to declare defaulting IL&FS accounts as non-performing assets
Business

NCLAT allows banks to declare defaulting IL&FS accounts as non-performing assets

The National Company Law Appellate Tribunal (NCLAT) on Thursday allowed the banks to declare as non-performing assets the accounts of IL&FS and its group companies that have defaulted on payments

NCLAT asks 4 IL&FS group entities to submit information over investment made by pension and provident funds
Business

NCLAT asks 4 IL&FS group entities to submit information over investment made by pension and provident funds

The NCLAT also made clear that it has not stopped IL&FS and its group entities from going for a resolution process

IL&FS group to receive first set of bids under asset monetisation process tomorrow
Business

IL&FS group to receive first set of bids under asset monetisation process tomorrow

IL&FS group, which is sitting on the debt of about ₹94,000 crore debt, had decided to sell assets in various verticals

Grant Thornton report on IL&FS points to several irregularities in deals worth Rs 13,000 cr
Business

Grant Thornton report on IL&FS points to several irregularities in deals worth Rs 13,000 cr

Grant Thornton in its report on debt-ridden IL&FS Group has identified various financial irregularities in deals with financial implications of over Rs 13,000 crore during a special audit conducted by the firm

Lot of headway being made in IL&FS matter, first phase of resolution will be completed in few months: Corp affairs secy
Business

Lot of headway being made in IL&FS matter, first phase of resolution will be completed in few months: Corp affairs secy

On Monday, NCLAT said no bank or financial institution can declare the accounts of debt-ridden IL&FS and group companies as non-performing assets without its permission

Retirement funds investing in IL&FS: IBC order of priority can’t be blamed for funds' folly and greed
Business

Retirement funds investing in IL&FS: IBC order of priority can’t be blamed for funds' folly and greed

In the light of the IL&FS fiasco, employees must also be asked to give their consent to bonds and commercial papers.