The National Company Law Appellate Tribunal on Monday allowed 22 companies of crisis-hit IL&FS group to service their debt obligations
Domestic rating agency Icra has placed the ratings of six mutual fund schemes under watch with negative implications due to their exposure to the crippled infra lender IL&FS group entities
The lawyer of Rupa Kapoor, wife of former non-executive director of IL&FS, Vaibhav Kapoor, Wednesday asked the NCLT Mumbai bench on the validity of freezing her joint account,
Debt-ridden Infrastructure Leasing & Financial Services (IL&FS) on Thursday said it has received more than 30 expressions of interest (EOI) for acquiring its stakes in its 22 assets across its domestic road vertical as a part of its asset monetisation plan
The dividend of Rs 7.12 crore was due for the period between 1 April, 2017 to 23 December, 2018 and was not paid due to insufficient funds, the IL&FS Transportation Networks said
In a first, NCLT allows corporate affairs ministry to reopen IL&FS books to ascertain financial mismanagement
The government wants to check the balance-sheets of the crippled group and its two listed subsidiaries--ITNL and IL&FS Financial Services for the past five years
IL&FS Investment Managers was trading 9.86 percent higher at Rs 7.02 at 1230 hours on BSE, IL&FS Transportation Networks Ltd (ITNL) rose 5 percent to Rs 11.55 and IL&FS Engineering and Construction advanced as much as 4.98 percent to Rs 14.13.
Debt-laden IL&FS group firms are selling high-end cars, office furniture, electrical appliances and other assets in a bid to raise funds.
IL&FS Transportation appoints Shaivali Parekh as CFO; co delays filing of Sept quarter financial results
IL&FS Transportation Networks had last month cited NCLT insolvency proceeding as the reason for delay in filing September quarter financial results with the stock exchanges.
IL&FS said that the new board has taken various initiatives towards rationalising manpower with a view to reduce costs associated therewith
IL&FS crisis: Group-level resolution for Rs 91,000 cr debt unlikely, Uday Kotak-led board tells NCLT
"Based on an outreach conducted by the FTA, the initial assessment seems to indicate that currently, the group-level resolution option is unlikely to materialise," the IL&FS board said in its second report on progress and way forward submitted to the NCLT.
N Sivaraman will be responsible for day-to-day operations and provide hands-on leadership and oversight to the groups' asset monetisation efforts, IL&FS said
The Parliamentary Standing Committee on Finance will take stock of the developments at crisis-hit IL&FS Group for three days from 3 December
"The newly appointed board of IL&FS is in the process of preparation of roadmap and its subsequent submission to NCLT, which will require IL&FS Transportation Networks Ltd (ITNL) to undertake divestment, restructuring and/or consolidation of its assets...which will have an impact on the accounting and financial aspects of ITNL," the company said in a BSE filing.
IndusInd Bank calls off deal to acquire IL&FS Securities Services due to non-fulfilment of conditions
"The share purchase agreement (SPA) stands terminated as all the conditions precedent were not satisfied within the stipulated time period," IndusInd Bank said
IL&FS Group''s total debt stood at Rs 94,215.6 crore as on 8 October 2018.
IL&FS crisis: Multiple options explored, selling the firm as going concern best-case scenario, says Injeti Srinivas
The government has seized control of IL&FS and ordered an inquiry by the Serious Fraud Investigation Office.
IL&FS Financial Services' exposure to group cos breaches RBI norms in FY16-18: Newly appointed Uday Kotak-led board
IL&FS Financial Services is a 100 percent subsidiary of the debt-ridden IL&FS Group, which according to the board has over Rs 94,000 crore debt of which Rs 53,000 crore from banks.
Kirloskar group gets RBI nod for NBFC business; company to invest Rs 1,000 crore, will focus on SMEs initially
Atul Kirloskar, chairman of Kirloskar group, said, "We are enthused by the RBI green signal and excited to start the business, which will reflect what we have been traditionally - conservative but solid - and ready to grow."