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IL&FS case: NCLT rejects Deloitte, KPMG arm's no-jurisdiction plea; next hearing on 5 September
•An Indian tribunal on Friday rejected an appeal by the auditors of debt-laden Infrastructure Leasing & Financial Services (IL&FS), challenging the court’s jurisdiction to ban them for alleged abetment of financial fraud
IL&FS crisis: Cash-strapped infrastructure lender says on course to clear Rs 20,000 cr debt
Pressrelease •Infrastructure Leasing & Financial Services (IL&FS), which has an outstanding debt of Rs 94,216 crore, said on Wednesday the board has taken various steps to address over Rs 20,000 crore of its debt pile over the past nine months
IL&FS fraud case: Board to set up sub-committee to oversee process of disinvestment
•The decision to form a sub-panel was taken in IL&FS's board meeting held on 28 June
Finance ministry asks EPFO to reduce annual fund payout of 8.65% amid fears about lending crunch
•EPFO, which is administered by the labour ministry, announced just before the recent April-May general election that it would pay the rate for the last financial year ending 31 March 2019, up from 8.55% in the previous year.
IL&FS scam: Govt alleges 22 auditing standards violations by Deloitte, KPMG arm; companies deny wrongdoing
•India detected at least 22 violations of auditing standards by Deloitte Haskins & Sells and a KPMG affiliate while investigating a fraud at a financial company, leading it to seek a five-year ban on the auditors, according to government legal filings seen by Reuters
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•Following an NCLAT order, the Reserve Bank of India (RBI) has withdrawn its circular asking banks and financial institutions to declare details of their exposure and provisions related to the crisis-hit IL&FS
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
Cash-strapped IL&FS gets over 30 expressions of interests for sale of its domestic roads vertical
•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
IL&FS Transportation Networks defaults on dividend payment of Rs 7.12 cr
•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
IL&FS group cos' shares climb up to 10% on divestment initiative to raise funds
•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.