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.

In the news
1 Jan 2019

IL&FS puts properties up for sale

IL&FS group has further put up its properties for sale to garner funds in order to settle loan dues. It has invited bids from interested buyers for properties in Mumbai and one Kolkata.

In the news
31 Dec 2018

IL&FS seeks bids for realty assets in Mumbai, Kolkata

The company said it is selling five real estate assets in Mumbai and one in Kolkata with 15 January as the final date for potential buyers to submit their bids, IL&FS said in a newspaper advertisement on Friday.

In the news
31 Dec 2018

IL&FS probe: CA Institute to follow own course; next hearing on Jan 12

The CA Institute will independently continue with its disciplinary proceedings against the signing audit partners of IL&FS Ltd and two of its subsidiaries irrespective of the fate of the Centre’s plea before the National Company Law Tribunal (NCLT).

In the news
31 Dec 2018

IL&FS hostage crisis: Ethiopian staff now insist on 8 months’ salary

The hostage situation involving the four Indian IL&FS employees in Ethiopia is spiralling out of control with the Ethiopian Road Authority (ERA) backing the local staff’s demand of 12.4 million Ethiopian Birr (ETB) from the company for their release.

In the news
31 Dec 2018

IL&FS Engineering pulls out of Ahmedabad Metro project

IL&FS group has pulled out of the Phase-I of the Ahmedabad Metro project. One of the subsidiaries of the company, IL&FS Engineering, which had won a Rs 370-crore contract to construct viaduct on the second priority stretch on the North-South corridor that was expected to be commissioned by April, 2019.

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