In the news
23 Jan 2019

World Bank steps in to defuse IL&FS Ethiopia crisis

In a bid to end the crisis facing IL&FS employees in Ethiopia, the World Bank has asked the Ethiopian Roads Authority to look for a resolution at the earliest. The project, being executed by an IL&FS joint venture in Ethiopia, is funded by the World Bank.

In the news
16 Jan 2019

IL&FS staffers stay captive in Ethiopia as bank raises hurdle

After spending 50 days in captivity, Chaitanya Hari, an engineer with IL&FS Transportation Network Ltd (ITNL) in Ethiopia, was hoping to be released on Tuesday to be home in time for his sister’s wedding next week.

In the news
16 Jan 2019

2 IL&FS subsidiaries seek refund of debt repaid after 15 Oct

Two subsidiaries of IL&FS Transportation Networks Ltd (ITNL) have decided to stop debt repayments and have sought refunds of debt repaid after 15 October, India Ratings said Tuesday, warning such action would lead to a default rating and threaten infrastructure project finance using special purpose vehicles.

In the news
16 Jan 2019

Provident funds face crores in losses from IL&FS

Provident and pension funds of thousands of middle-class salaried people face the spectre of losing thousands of crores of their nest egg as analysts estimate these funds’ investments in Infrastructure Leasing & Financial Services and group companies to be between Rs. 15,000 to Rs 20,000 crore, said three people familiar with the matter.

In the news
16 Jan 2019

IL&FS bows out, govt to invite tenders for Zojila tunnel for the third time

The Union government is set to invite tenders for a third time for its ambitious Zojila tunnel project in Jammu and Kashmir as crisis-hit Infrastructure Leasing & Financial Services (IL&FS) has surrendered the Rs 6,809-crore contract it bagged in 2017.

In the news
11 Jan 2019

No indemnity, warranties for IL&FS assets

Infrastructure Leasing & Financial Services, which is selling assets to repay debt of about Rs 91,000 crore ($13 billion), won’t provide indemnity and warranties to potential buyers, a move that will drive down valuations steeply, said three people with direct knowledge of the matter.

In the news
10 Jan 2019

IL&FS has received over 30 expressions of interest (EOIs) for its road assets

Infrastructure Leasing & Financial Services (IL&FS) on Wednesday said it has received enquiries from over 30 bidders for the asset monetisation process for the domestic roads vertical — worth over Rs 25,000 crore — housed under its subsidiary IL&FS Transportation Networks Ltd.

In the news
10 Jan 2019

Tata, JSW enter race for IL&FS’ renewable energy

Tata Power, Torrent, JSW Energy, Greenko, Sterlite Power and Statcraft are among the 15-plus applicants who have submitted their expressions of interest (EoIs) for IL&FS group’s renewable energy assets worth Rs 8,000 crore — the second largest vertical after roads.

Press release
9 Jan 2019

IL&FS ASSET MONETISATION PROCESS RECEIVES STRONG INTEREST FOR ITS DOMESTIC ROADS VERTICAL

Infrastructure Leasing & Financial Services (“IL&FS”) has received a strong response to the asset monetization process for the Domestic Roads Vertical housed under its subsidiary, IL&FS Transportation Networks Ltd. More than 30 expressions of interest were received for acquiring IL&FS’ interests in its domestic road vertical including its domestic EPC and O&M businesses.

In the news
2 Jan 2019

In a first, NCLT allows govt to reopen books of IL&FS, arms

The National Company Law Tribunal (NCLT) on Tuesday allowed the corporate affairs ministry to reopen the books of the IL&FS Group and its subsidiaries for the past five years under Section 130 of the Companies Act, to ascertain financial mismanagement.

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