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Uday Kotak-led IL&FS board to axe 65% workforce across the group to reduce wage bill
Fp Staff •IL&FS said that the new board has taken various initiatives towards rationalising manpower with a view to reduce costs associated therewith
India house prices to rise at half the rate of consumer price inflation in 2019; Delhi will be hit hardest: Poll
•House prices have risen at almost double-digit rates for over a decade in a country of 1.3 billion people, where for many, owning a home is still a dream.
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 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.
State of the economy: IL&FS crisis could spread to other NBFCs if resolution doesn’t come fast, says Siddharth Purohit
Fp Staff •Siddharth Purohit, research analyst at SMC Global securities, speaking at Firstpost State of the economy dialogues, an interview series where experts analyse the economy
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.
IL&FS board appoints three advisors to develop resolution plan and undertake valuations across divestment
•IL&FS and its subsidiaries have defaulted on several debt repayments recently due to the liquidity crisis
Govt may have to bailout IL&FS following failed attempts by company to raise capital through rights issue
Fp Staff •IL&FS board appoints nominee directors for subsidiaries; initiates austerity measures
•The newly appointed board of cash-strapped Infrastructure Leasing and Financial Services (IL&FS) in its second meeting on Friday appointed nominee directors for eight of its subsidiaries.
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