Although couched in politically correct accounting-speak, accounting and consulting major, Grant Thornton (GT), has systematically exposed what is clearly a massive fraud, mismanagement of funds, capricious actions and total disregard for regulators and regulation by the previous top...

Even as provident fund (PF) and pension fund trusts, which have invested in the bonds issued by debt-ridden Infrastructure Leasing and Financial Services Ltd (IL&FS), are fearing big losses, the finance ministry had said that such superannuated bonds do not carry any government guarantee and...

The Enforcement Directorate (ED) is carrying out searches at six places in Delhi, Mumbai & Gurugram in connection with a case registered in the Infrastructure Leasing and Financial Services Ltd (IL&FS) matter.   The ED has registered a case against former top officials of IL&FS,...

The National Company Law Appellate Tribunal (NCLAT), while lifting the moratorium, has asked Infrastructure Leasing and Financial Services (IL&FS) and its group companies to service their debt obligations.    Earlier, the NCLAT had imposed a 90-day moratorium on loan recovery from all...

Rating company has downgraded the debt-laden Infrastructure Leasing and Financial Services (IL&FS) by several notches citing cash crunch pressure. The rating company has downgraded the company’s bonds and long term loans to BB from AA+. "The downgrade of ratings takes into account the...