The ongoing pandemic has impacted the recovery of loans given by IL&FS Financial Services (IFIN), and also delayed the sale of the real estate assets of the IL&FS Group, IL&FS non-Executive Chairman Uday Kotak said on Monday.   Mr Kotak also said that the pandemic is likely to impact...
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The Securities Appellate Tribunal (SAT) has ruled that the Securities and Exchange Board of India (SEBI) has the power to initiate proceedings under Section 15-I(3) of the SEBI Act against India Ratings and Research Pvt Ltd and enhance the penalty on the rating agency for violating norms in...
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Challenging the Bombay High Court order concerning BSR & Associates LLC and Deloitte Haskins and Sells in the IL&FS scam, the Centre has told the Supreme Court that the HC's interpretation of the Companies Act' Section 140 (5) would cause serious prejudice and profoundly impact the...
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In a big relief for audit firms BSR and Associates, and Deloitte Haskins and Sells, both former auditors of IL&FS Financial Services, the Supreme Court refused to stay the Bombay High Court order which quashed all prosecution against the firms in the IL&FS scam. A bench headed by Chief...
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UPDATED on 13 June 2020 at 9.10am to add response from IL&FS.   In the past couple of weeks, two publications have published exclusive reports on the second forensic audit of ITNL (IL&FS Transportation Network Ltd). ITNL, like IFIN (IL&FS Financial Services), is one of the two big...
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