ITNL Offshore PTE Ltd (IOPL), a Singapore-based subsidiary of IL&FS owned ITNL, on Tuesday said the company is "committed to engaging in consensual discussion with Trustees wrt its obligations under the Notes and distribution of any recoveries from repayment of loan".   IOPL informed...
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In a setback to a few secured creditors of the crisis-ridden IL&FS Group, the National Company Law Appellate Tribunal (NCLAT) on Thursday accepted the suggestion of pro-rata distribution of the remainder sales proceeds after the creditors are paid under Section 53 of the Insolvency and...
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The government-appointed board of Infrastructure Leasing and Financial Services (IL&FS), is under pressure to speed up the messy resolution, having bled over Rs100 crore in legal fees and requesting another 270 days to resolve the issue. Earlier this month, IL&FS filed an affidavit before the...
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A national news agency has credited the department of economic affairs (DEA) under the ministry of finance of flagging the problem at Infrastructure Leasing & Financial Services (IL&FS) and warning the finance ministry of its impact on 30 September 2018. This is part of a recent affidavit...
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The Ministry of Corporate Affairs (MCA) has requested the National Company Law Appellate Tribunal (NCLAT) to give additional 270 days for completing resolution of 105 companies of the scam-hit Infrastructure Leasing & Financial Services (IL&FS) group. In an affidavit, the MCA also requested...
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