IL&FS
Moneylife Digital Team 11 November 2019
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).

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IANS 11 October 2019
Crisis-hit IL&FS Group has put 13 of its properties in prime locations across Mumbai, Hyderabad and Kolkata up for sale and has invited expressions of interest (EoI) for the same

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IANS 26 September 2019
The National Company Law Appellate Tribunal (NCLAT) on Thursday issued a notice to the Gujarat Urja Vikas Nigam after the cash-strapped IL&FS approached the appellate tribunal seeking the release of around Rs 145 crore held by the power distribution company.

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Moneylife Digital Team 17 September 2019
Calling the ratings given to debt-ridden Infrastructure Leasing & Financial Services (IL&FS) group as 'a highly regrettable failure', Naresh Takkar, who was sacked as group chief executive (CEO) and managing director (MD) of ratings agency ICRA Ltd, has said that he cannot be singled out and held responsible for the collective failure in assigning ratings to the IL&FS group.

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Moneylife Digital Team 10 September 2019
In a relief to commuters, the Punjab and Haryana High Court has asked Rapid Metro Rail Gurgaon Ltd (RMGL) and Rapid Metrorail Gurgaon South Ltd (RMSGL), the two special purpose vehicles (SPVs) of scam-hit Infrastructure Leasing & Financial Services (IL&FS) to continue to operate and manage the Rapid Metro Rail on both lines till 17 September 2019.

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Moneylife Digital Team 10 September 2019
Scam-hit Infrastructure Leasing & Financial Services (IL&FS) has received binding financial offers worth about Rs13,000 crore for its 10 domestic road assets. These bids were opened on 9 September 2019.

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Moneylife Digital Team 09 September 2019
Justice DK Jain, appointed by the National Company Law Appellate Tribunal (NCLAT) to oversee the Infrastructure Leasing & Financial Services (IL&FS) resolution process, has approved transfer of Gurgaon Rapid MetroRail to Haryana Urban Development Authority (HUDA).

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IANS 21 August 2019
The Enforcement Directorate charge sheet against IL&FS and the cabal which ran it gives the full scope and extent of the malfeasance and all pervasive rot. Pertinently, it refers to the closed user group individually and by name and provides details on their conduct.

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The fourth and fifth progress reports on the resolution of Infrastructure Leasing & Financial Services (IL&FS) mess, submitted by the government-appointed IL&FS board to the National Company Law Appellate Tribunal (NCLAT) on 14th August, contain the Reserve Bank of India’s (RBI’s) inspection report on IL&FS

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Almost everything about the 5th progress report submitted by the new board of Infrastructure Leasing & Financial Services (IL&FS) raises more questions than it answers

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IANS 16 August 2019
As the liquidity crunch in the non-banking finance company (NBFC) sector, which came to light with the IL&FS crisis, continues to drag the economy down, fresh revelations of blatant misgovernance by the erstwhile IL&FS mangement have been revealed by the RBI's investigation in the matter.

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The fifth status report filed by the government appointed board of Infrastructure Leasing & Financial Services (IL&FS) today, includes a rather disappointing report from Grant Thornton which completely misses the core issues into what happened between Allied Financial Services Ltd (Allied) the brokerage firm which had a clearing account with IL&FS Securities Services Ltd (ISSL) and it relationship with the three complainants.

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Moneylife Digital Team 14 August 2019
The government appointed board of Infrastructure Leasing & Financial Services (IL&FS) released its fourth and fifth progress reports outlining action taken with regard to sale of assets, recovery of money, liquidation of assets and other issue.

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IANS 12 August 2019
Crisis-ridden IL&FS has filed a proposal to the National Company law Tribunal (NCLT) to complete the sale of its arm IL&FS Wind Energy Ltd (IWEL) to ORIX Corporation of Japan.

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Moneylife Digital Team 09 August 2019
The National Company Law Appellate Tribunal (NCLAT) has expressed its displeasure over the delay in filing progress report on the resolution process by Infrastructure Leasing and Financial Services Ltd (IL&FS) and the government.

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The anticipated recovery of nearly Rs50,000 crore from the resolution of the beleaguered Infrastructure Leasing & Financial Services (IL&FS) is unlikely to fix the problem over its default

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Moneylife Digital Team 26 July 2019
Fund crunch at IL&FS Securities Services Ltd (ISSL) hit its client-brokers on Thursday morning as the National Stock Exchange (NSE) put their terminals in square-off mode due shortfall in settlement payments by ISSL.

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Moneylife Digital Team 24 July 2019
Scam—hit Infrastructure Leasing & Financial Services (IL&FS) has said that its new board has taken key steps to addressed debt of more than Rs20,000 crore, which it feels represents a significant interim outcome in its resolution process

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It took just three months, in 2009, for a three-member committee, headed by Deepak Parekh with technology expert Kiran Karnik and legal expert C Achuthan, to complete the bids for Satyam Computers, after B Ramalinga Raju’s stunning confession of fraud

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As a new layer of the IL&FS mess gets exposed every other day, Grant Thornton's forensic audit report now suggests that IL&FS Transportation Networks Ltd's (ITNL) current CEO, Dilip Bhatia, was among the decision-makers in terms of rating changes of the company and very much tried to conceal unfavourable ratings accorded by credit rating agencies

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