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 ›
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 ›
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 ›
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 ›
27 June 2019: The Infrastructure Leasing & Finanacial Services board will on June 28 take up a proposal to release stuck payments of creditors in 13 group entities, according to a senior government official. An apppellate tribunal had set July… Read More ›
26 June 2019: The government has paid up Rs 25 crore to Asian Development Bank (ADB) and German development bank KfW on sovereign guarantees issued on behalf of the now financially distressed Infrastructure Leasing & Financial Services (IL&FS) and is… Read More ›
22 June 2019: Deloitte Haskins & Sells and BSR & Associates, a KPMG network firm, said the National Company Law Tribunal (NCLT) didn’t have the jurisdiction to decide on the government’s demand for a five-year ban against the auditors of… Read More ›
20 June 2019: The ministry of corporate affairs (MCA) has directed the Serious Fraud Investigation Office (SFIO) to probe banks as well as their officials who lent to the Infrastructure Leasing and Financial Services Ltd (IL&FS) group of companies, according… Read More ›
20 June 2019: The Serious Fraud Investigation Office’s (SFIO) probe into the affairs of IL&FS shows that its financial arm, IL&FS Financial Services (IFIN) incurred losses for at least five financial years from FY14 to FY18. However, the company avoided… Read More ›
11 June 2019: In order to wrap up inactive entities, the IL&FS board will initiate voluntary liquidation of 15 small group companies soon, a senior official with knowledge of the matter said. The board aims to recover around Rs 15… Read More ›
