16 August 2019: Out of total debt of more than Rs 89,000 crore held by Indian entities of the IL&FS Group, as much as Rs 61,375.6 crore was held by 82 entities which were not able to meet payments to… Read More ›
IL&FS
LM: IL&FS proposes to NCLT sale of wind energy assets to ORIX of Japan
11 August 2019: Embattled IL&FS group has proposed to the National Company Law Tribunal (NCLT) the sale of its wind energy business to Japan’s Orix Corporation, which will help reduce the debt of the company by ₹4,800 crore. Infrastructure Leasing… Read More ›
BS: NCLAT raps MCA, IL&FS board over delay in presenting resolution plan
9 August 2019: The National Company Law Appellate Tribunal (NCLAT) on Thursday pulled up the Ministry of Corporate Affairs (MCA) and the newly appointed board of Infrastructure Leasing & Financial Services (IL&FS) for inordinate delay in presenting the final resolution… Read More ›
FE: NCLT adjourns hearing on IL&FS ex-auditor’ asset freeze case to August 28
7 August 2019: The National Company Law Tribunal (NCLT) adjourned the hearing on the matter of freezing the assets of the former auditors of IL&FS, Deloitte Haskin & Sells and BSR & Associates, to August 28. The tribunal on Tuesday… Read More ›
MC: NCLAT agrees to hear pleas of IL&FS auditors against impleadment
30 July 2019: The National Company Law Appellate Tribunal (NCLAT) has said it would hear the pleas of auditors of IL&FS — Deloitte Haskins & Sells LLP and B S R Associates LLP — against an order passed by NCLT… Read More ›
MC: IL&FS: NCLT allows govt to prosecute auditors Deloitte, BSR; C Sivasnkaran & 2 independent directors
18 July 2019: The NCLT has given a go-ahead to government to prosecute Deloitte and BSR Associates for their failure to detect and report the scams that took place across the now-bankrupt IL&FS group and 21 other entities, when they… Read More ›
ET: Three IL&FS group companies to service Rs 3,300 crore debt
13 July 2019: Three group entities of debt-laden Infrastructure Leasing and Financial Services with outstanding loans of about `3,300 crore are set to begin servicing them after lenders and IL&FS reached agreements to restructure debt, according to submissions before an… Read More ›
ET: IL&FS board shortlists firms to recast its books
1 July 2019: After the Serious Fraud Investigation Office (SFIO) took a strong view against the big four audit firms, the board of IL&FS has shortlisted Indian firms to reopen and recast IL&FS’ books and the mandate for the job… Read More ›
FE: IL&FS panel to explore loan recast options
29 June 2019: The Uday Kotak-led board of IL&FS on Friday set up a six-member committee for exploring debt restructuring of at least five identified entities, sources told FE. The committee, which includes board members Vineet Nayyar, N Srinivasan and… Read More ›
ML: HSBC issues notice to IL&FS arm seeking its dues worth $145 million
27 June 2019: In a fresh hit for the lending major IL&FS, Hongkong and Shanghai Banking Corporation (HSBC) has issued a notice to the former’s arm ITNL Offshore Private Ltd asking it to pay 1 billion Chinese Yuan ($145 million)…. Read More ›
