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  • IL&FS looks to recover Rs 5,000 crore more, increases debt recovery target to Rs 61,000 crore Apr 15, 2021 01:59 PM IST

    IL&FS looks to recover Rs 5,000 crore more, increases debt recovery target to Rs 61,000 crore

    Further, recovery of around Rs 10,000 crore is likely to spill over beyond September 2021 on account of various reasons, including procedural complexities, IL&FS said,

  • IL&FS says it has addressed Rs 43,000 crore debt resolution till date, increases aggregate debt recovery target to Rs 61,000 crore Apr 15, 2021 12:38 PM IST

    IL&FS says it has addressed Rs 43,000 crore debt resolution till date, increases aggregate debt recovery target to Rs 61,000 crore

    The Group has addressed aggregate debt of Rs 43,000 crore till date, according to the Board through sale of assets.

  • IL&FS sells environment business to Everstone arm, to pare Rs 1,200 crore debt Apr 08, 2021 01:21 PM IST

    IL&FS sells environment business to Everstone arm, to pare Rs 1,200 crore debt

    IL&FS, which owed over 65,000 crore to the system, held 97.54 percent of equity in IEISL

  • IL&FS receives Rs 693 crore settlement claims for 2 road projects from NHAI Apr 04, 2021 04:08 PM IST

    IL&FS receives Rs 693 crore settlement claims for 2 road projects from NHAI

    The group further said there is a pending settlement of Rs 902 crore for the Khed Sinnar Expressway project and Rs 171 crore for Amravati Chikli Expressway from NHAI.

  • IL&FS completes stake sale in China road asset; deal to address Rs 2,600 crore debt Apr 01, 2021 07:33 PM IST

    IL&FS completes stake sale in China road asset; deal to address Rs 2,600 crore debt

    The transaction will help the group address Rs 2,600 crore of its overall debt of close to Rs 99,000 crore (as of October 2018).

  • Karnataka Bank reports Rs 34.16-crore fraud to RBI Feb 20, 2021 03:58 PM IST

    Karnataka Bank reports Rs 34.16-crore fraud to RBI

    The lender said IL&FS Transportation had availed credit from it during 2016 under multiple banking arrangements in which Karnataka Bank was one of the members.

  • IL&FS's road InvIT gets all important approvals from CCI, SEBI and others; to be launched soon Jan 22, 2021 08:53 PM IST

    IL&FS's road InvIT gets all important approvals from CCI, SEBI and others; to be launched soon

    The group mentioned that it has addressed Rs 32,000 crore of the group's overall debt so far and retained its target of addressing a debt of over Rs 56,000 crore by 2021-22, of an overall debt of over Rs 99,000 crore (as of October 2018).

  • IL&FS addresses Rs 32,000 crore debt Jan 22, 2021 03:14 PM IST

    IL&FS addresses Rs 32,000 crore debt

    The board, led by veteran banker Uday Kotak, retained its target of addressing a debt of over Rs 56,000 crore by 2021-22, of an overall debt of over Rs 99,000 crore (as of October 2018).

  • RBI likely to propose stricter rules for shadow banks Jan 16, 2021 04:47 PM IST

    RBI likely to propose stricter rules for shadow banks

    The RBI is expected to set out proposals in a discussion paper next week, recommending that bigger shadow banks maintain a statutory liquidity ratio, the sources said.

  • DHFL may get a new owner by January-end; advantage Piramals due to ‘local’ factor Dec 31, 2020 04:05 PM IST

    DHFL may get a new owner by January-end; advantage Piramals due to ‘local’ factor

    CoC meeting underway to decide the winner as Piramals and Oaktree submit almost at par bids.

  • Book Excerpt | Writer Tamal Bandyopadhyay offers an insider story on the rot in India’s banking system Oct 31, 2020 09:38 AM IST

    Book Excerpt | Writer Tamal Bandyopadhyay offers an insider story on the rot in India’s banking system

    Shadow banks exist in many Third World countries, notably China, Indonesia and Bangladesh, among others. These are financial institutions that borrow and lend funds for all sorts of projects. But as they are not banks, they are subject to light touch supervision and regulation.

  • IL&FS misses debt resolution target by Rs 7,300 crore in September quarter Oct 24, 2020 02:38 PM IST

    IL&FS misses debt resolution target by Rs 7,300 crore in September quarter

    The group said the Rs 7,300-crore shortfall in the September target has been rolled over for achievement in subsequent quarters.

  • IL&FS Executive Vice-Chairman Vineet Nayyar resigns citing health reasons Oct 19, 2020 06:48 PM IST

    IL&FS Executive Vice-Chairman Vineet Nayyar resigns citing health reasons

    Nayyar was appointed the executive vice-chairman in 2018 and has been leading the IL&FS resolution.

  • Uday Kotak's term extended by one year as IL&FS chairman Sep 23, 2020 08:54 PM IST

    Uday Kotak's term extended by one year as IL&FS chairman

    This is Kotak's second extension on IL&FS board, after the government extended his term for a year in October last year

  • NFRA pulls up IL&FS Financial Services' auditor after finding lapses in procedure Aug 18, 2020 01:44 PM IST

    NFRA pulls up IL&FS Financial Services' auditor after finding lapses in procedure

    As per the report, BSR and other entities in its network used “de facto” the KPMG trademark and branding to provide audit and non-audit services while making “clearly futile attempt to show a de jure (legal) separation from KPMG.”

  • Interview | Srei Infrastructure's Hemant Kanoria says liquidity measures for NBFCs are yet to yield results Aug 04, 2020 01:09 PM IST

    Interview | Srei Infrastructure's Hemant Kanoria says liquidity measures for NBFCs are yet to yield results

    Hemant Kanoria pointed out that fear of defaults is causing banks to refrain from fresh lending

  • NFRA bars ex-Deloitte chief Udayan Sen from being appointed auditor for 7 years Jul 22, 2020 08:19 PM IST

    NFRA bars ex-Deloitte chief Udayan Sen from being appointed auditor for 7 years

    The regulator has also imposed a monetary penalty of Rs 25 lakh on Sen, having found him guilty of professional misconduct and complicity in the fraudulent presentation of the company's financial statements.

  • IL&FS board upgrades estimates of debt addressed to over Rs 57,000 crore Jul 20, 2020 12:49 PM IST

    IL&FS board upgrades estimates of debt addressed to over Rs 57,000 crore

    Aggregate value of debt being addressed is now estimated as over Rs 57,000 crore – with around Rs 50,500 crore likely to be addressed by March 2021

  • IL&FS case: SAT refuses to stay SEBI proceedings in 2nd show-cause notice against India Ratings Jul 06, 2020 08:00 PM IST

    IL&FS case: SAT refuses to stay SEBI proceedings in 2nd show-cause notice against India Ratings

    Regarding an appeal against SEBI order imposing Rs 25 lakh penalty on India Ratings, the tribunal directed the rating agency to deposit the amount with the regulator within four weeks, which would be subject to the result of the appeal.

  • Despite several measures, stress still visible in certain areas of financial markets, says RBI Jun 11, 2020 10:19 AM IST

    Despite several measures, stress still visible in certain areas of financial markets, says RBI

    The RBI has noted that market financing conditions for NBFCs, assessed through various market metrics, have shown sign of deterioration post the outbreak of COVID-19, especially for lower rated /private sector NBFCs.

  • IL&FS sells 50% stake in GIFT City to Gujarat government for Rs 33 crore Jun 08, 2020 01:15 PM IST

    IL&FS sells 50% stake in GIFT City to Gujarat government for Rs 33 crore

    The stake sale was approved by the National Company Law Tribunal last month.

  • Exclusive | IL&FS unit colluded with Mumbai contractor on infra projects, finds forensic audit May 28, 2020 05:03 PM IST

    Exclusive | IL&FS unit colluded with Mumbai contractor on infra projects, finds forensic audit

    IL&FS Transportation Networks India Limited passed lucrative contracts to GHV India Private Limited through suspicious transactions and rigged bidding, says report by Grant Thornton.

  • NCLT approves IL&FS stake sale in GIFTCL to Gujarat govt May 27, 2020 07:00 PM IST

    NCLT approves IL&FS stake sale in GIFTCL to Gujarat govt

    The order said that IL&FS had sought that an amount of Rs 61.84 lakh is excluded as resolution process costs incurred for meeting various expenditures, other applicable taxes from the sale proceeds of the applicant's shareholding in GIFTCL to the Gujarat government.

  • IL&FS case: Govt all set to move Supreme Court to prosecute auditors BSR, Deloitte May 18, 2020 12:22 PM IST

    IL&FS case: Govt all set to move Supreme Court to prosecute auditors BSR, Deloitte

    The High Court ruling on April 20 was a relief for the two audit firms that moved court against the government’s decision to ban them from auditing activities for five years and initiate criminal proceedings against them.

  • IL&FS sells entire stake in IWPSL to ORIX Corp for Rs 6.05 crore Apr 16, 2020 01:22 PM IST

    IL&FS sells entire stake in IWPSL to ORIX Corp for Rs 6.05 crore

    “The divestment of IWPSL has resulted in a consideration of Rs 6.05 crore to IL&FS Energy that will be kept in an escrow account for its lenders,” the group said in a release.

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