ILFS Mess

As recently as in July 2018, through a disclosure to the stock exchanges, IL&FS Employee Welfare Trust (EWT) brazenly ripped off the beleaguered parent organisation—Infrastructure Leasing and Financial Services (IL&FS). The scam was fully disclosed in an announcement to the stock exchanges on...
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Midas Touch Investors' Association (Midas Touch), a well-known investor organisation, has requested Arun Jaitley, Minister of Finance, for detailed investigation in the Infrastructure Leasing and Financial Services (IL&FS) mess by Central Bureau of Investigation (CBI).   According to...
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The National Company Law Appellate Tribunal (NCLAT) on Monday stayed all proceedings against Infrastructure Leasing and Financial Services (IL&FS) and its 348 group companies till further order.   The order came over an urgent petition moved by the Ministry of Corporate Affairs after...
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The new board of Infrastructure Leasing & Financial Services (IL&FS) headed by Uday Kotak has started replacing nominee directors on various subsidiaries of the conglomerate   In a statement, IL&FS says, "...the board approved formation of a core operating committee under Vineet...
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UPDATED on 15 October 2018 at 6.50pm to add more information from REDD Intelligence   While all eyes are on the tottering behemoth Infrastructure Leasing & Financial Services (IL&FS) and its hundreds of hydra-headed subsidiaries, more and more details are coming out of the ingenious...
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