Crisis-ridden IL&FS on Wednesday reported a net standalone loss of Rs 22,527 crore for the financial year 2018-19, compared to a net profit of Rs 333 crore during the previous year.   In a statement, the cash strapped lending major said: "The Board adopted prudent provisioning on...
The Mumbai bench of National Company Law Tribunal (NCLT) has directed the chief executive officers (CEOs) of Axis Bank and Standard Chartered Bank to be present at the next hearing of the IL&FS matter on 16th December.   Hearing a contempt petition against Amitabh Chaudhry and Zarin...
Debt-ridden Infrastructure Leasing & Financial Services Ltd (IL&FS) says its committee of creditors (CoC) have approved sale of its education unit Schoolnet India Ltd (erstwhile IL&FS Education & Technology Service Ltd) to Career Point Publications Pvt Ltd (CPPPL). No financial details were...

Debt-ridden Infrastructure Leasing & Financial Services Ltd (IL&FS) has invited expression of interest for selling its entire 59.18% stake in CPG BPM Services Pvt Ltd (erstwhile ISSL CPG BPO Pvt Ltd).    In a notification, IL&FS says, "CPG has been approached by an interested party...
IL&FS Financial Services has defaulted on its payment obligations on loans and interest payments as low as Rs 4 lakh from October 31 to November 4.   In a regulatory filing with stock exchanges, the company has said the company was unable to service its obligations in respect of term...

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