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  • 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.

  • Mumbai court rejects Yes Bank founder Rana Kapoor's interim bail plea Apr 03, 2020 07:56 PM IST

    Mumbai court rejects Yes Bank founder Rana Kapoor's interim bail plea

    Kapoor, 62, had sought bail claiming that his prevailing medical condition puts him at the risk of contracting coronavirus infection in jail.

  • IL&FS seeks extension of bid validity for 5 road projects facing Rs 10,500-cr debt Mar 08, 2020 11:05 AM IST

    IL&FS seeks extension of bid validity for 5 road projects facing Rs 10,500-cr debt

    Infrastructure Leasing and Financial Services (IL&FS) had received time-bound binding bids for these five road projects, but the validity of those bids expired on February 29.

  • NCLAT dismisses Deloitte, KPMG and auditors pleas against impleadment in IL&FS matter Mar 04, 2020 07:40 PM IST

    NCLAT dismisses Deloitte, KPMG and auditors pleas against impleadment in IL&FS matter

    A two-member bench of the NCLAT upheld the directions of the Mumbai bench of the National Company Law Tribunal, saying it can not be termed as "illegal".

  • DEA had red flagged possible risks over IL&FS crisis in 2018 Feb 17, 2020 08:10 AM IST

    DEA had red flagged possible risks over IL&FS crisis in 2018

    The RBI's liquidity inducing measures and announcements have helped government bond yields to drop to 8.05-8.08 levels, but corporate bond yields have risen further by about 40-50 bps post-IL&FS crisis.

  • IL&FS case: ICRA & India Ratings plan to appeal against SEBI penalty Feb 13, 2020 08:33 PM IST

    IL&FS case: ICRA & India Ratings plan to appeal against SEBI penalty

    A penalty was charged to the rating agencies over the IL&FS case as they failed to assign ratings appropriate to the financial health of the company, and deliberately delayed the downgrading of the IL&FS' ratings.

  • IL&FS case: NCLAT to provide formula for distribution of proceeds among creditors Jan 16, 2020 10:30 PM IST

    IL&FS case: NCLAT to provide formula for distribution of proceeds among creditors

    The tribunal have also asked some of the lenders to file revised framework proposed by the Ministry of Corporate Affairs within a week, stating their position in the resolution of IL&FS group, which has a cumulative debt of over Rs 90,000 crore.

  • IL&FS case: Sebi slaps Rs 25 lakh fine each on ICRA, CARE Dec 26, 2019 07:55 PM IST

    IL&FS case: Sebi slaps Rs 25 lakh fine each on ICRA, CARE

    The regulator undertook an examination with respect to the role of the credit rating agencies (CRAs), including CARE Ratings Ltd and ICRA Ltd, in assigning rating to various NCDs of Infrastructure Leasing and Financial Services (IL&FS).

  • MCA extends IL&FS DMD Bijay Kumar's tenure by one year Dec 24, 2019 02:30 PM IST

    MCA extends IL&FS DMD Bijay Kumar's tenure by one year

    Kumar, an Indian Administrative Officer (IAS) of 1986 batch, was appointed director to the board of lL&FS by the Ministry of Corporate Affairs from December 21, 2018, and then took over as DMD of the group from December 24, 2018, for a period of one year.

  • Policy | More than CAA, focus must be on economy and unemployment Dec 19, 2019 04:14 PM IST

    Policy | More than CAA, focus must be on economy and unemployment

    The real threat for India may not be from stepped up flow of refugees from across the borders, but from the spiking levels of youth unemployment.

  • Corp Affairs Ministry reviews IL&FS resolution progress Dec 13, 2019 06:35 PM IST

    Corp Affairs Ministry reviews IL&FS resolution progress

    After the crisis at diversified IL&FS came to light last year, the ministry had superseded its board and since then various measures have been taken to address the issues as well as repay outstanding dues of the group.

  • IL&FS reports Rs 22,527 cr net loss for FY19 Dec 04, 2019 08:48 PM IST

    IL&FS reports Rs 22,527 cr net loss for FY19

    The scam-ridden infra lending major reported revenue of Rs 824 crore, massively down from Rs 1,734 crore in the previous year.

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