The principal bench of National Company Law Tribunal (NCLT) has allowed Infrastructure Leasing and Financial Services (IL&FS) to sell its entire 50% stake in Gujarat International Finance Tec-City Co Ltd (GIFT City) to the state government. Interestingly, the Gujarat government, in its...
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Crisis-hit Infrastructure Leasing and Financial Services (IL&FS) has decided to sell its entire 26% stake in ONGC Tripura Power Company (OTPC), its joint venture with state-run ONGC. IL&FS has expressions of interest (EoI) to divest the 26% stake, it holds through IL&FS Financial Services...
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The Bombay High Court has quashed complaint filed by the Serious Fraud Investigation Office (SFIO) against Deloitte Haskins and Sells LLP and KPMG arm BSR & Associates in connection with the IL&FS Financial Services (IFIN) fraud case, says a report from Bar & Bench.   A division bench...
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IL&FS has completed the sale of IL&FS Wind Power Services (IWSPL), a wholly owned subsidiary of IL&FS Energy Development Company Limited (IEDCL), to ORIX Corporation, Japan.   IWSPL is engaged in providing supervisory and management support services to seven companies that own and...
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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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