The New Board of IL&FS, as part of the overall resolution process for the IL&FS Group, has extended the last day of filing of claims, under its claims management process, from earlier deadline of June 5, 2019 to a new date of June 20, 2019. This extension is pursuant to the order passed by the Hon’ble NCLAT on May 29, 2019, wherein the court had extended the period for lenders to file their claims by June 20th, 2019.
The government appointed board of IL&FS is likely to file contempt proceedings against nine large banks including Bank Of Baroda, HDFC Bank, Yes Bank, Punjab and Sind Bank, Punjab National bank and Indian bank - for unauthorised withdrawals to the extend of Rs 800 crore during the moratorium period
Acting on the SFIO request, lookout circulars have been issued against the six ex-directors of IFIN - Ravi Parthasarthy, Hari Sankaran, Ramesh Bawa, Arun Saha and K Ramchand - ET Reports
The first hearing of the IL&FS fraud case will begin hearing on Friday in the sessions court - FE reports
The Supreme court on Tuesday allowed the SFIO to reopen and recast the accounts of IL&FS and two of its key subsidiaries of five years starting FY13
Trouble is mounting for audit firms as the ED issued summons to senior executives of Deloitte Haskins and Sells in connection with the ongoing money laundering probe against IL&FS.
Agency's charge sheet suggests regulator should conduct internal inquiry and take appropriate action
SFIO, in its chargesheet has exposed deep nexus between the auditors and other business companies to defraud the company
Launching a massive crackdown on perpetrators of IL&FS scams the SFIO has charged the erstwhile top management members of the group's financial subsidiary IFIN for forming a coiterie
Sivasankaran, nine IFIN ex-directors and auditors accused of hiding info, falsifying accounts. SFIO also accuses auditors BSR & Co LLP and Deloitte Haskins &Sells LLP, along with others of concealing information and falsifying accounts. SFIO said loans were given to Siva Group without adequate collateral.