Companies & Sectors

Crisis-ridden IL&FS on Monday said it has received approval from Justice (retd) D.K. Jain on the proposed sale of wind energy subsidiaries, held under IL&FS Wind Energy Ltd (IWEL), to ORIX Corporation of Japan.   Justice Jain was appointed by the National Company Law Appellate...
The Supreme Court on Monday ruled status quo on the sale of Essar Steel to Arcelor Mittal.   A bench headed by Justice Rhinton F. Nariman admitted the appeals by Essar Steel lenders and Arcelor Mittal challenging the order of the National Company Law Appellate Tribunal...
As a new layer of the IL&FS mess gets exposed every other day, Grant Thornton's forensic audit report now suggests that IL&FS Transportation Networks Ltd's (ITNL) current CEO, Dilip Bhatia, was among the decision-makers in terms of rating changes of the company and very much tried to conceal...

Updated on 22 July 2019 to incorporate comment from CARE Ratings...   Grant Thornton India LLP, which was appointed to conduct forensic audit on credit rating agencies (CRAs) by Infrastructure Leasing & Financial Services (IL&FS) reveals nexus between key employees of the scam-hit group...
The Enforcement Directorate on Thursday said it has attached properties totalling Rs 200 crore of different companies of the Basil International Ltd in several states in its probe into a ponzi scheme case.   In a statement, the agency said: "The ED has attached assets to the tune of...

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