In the three-four months the resolution timelines under IBC would be better adhered to. Prepackaged group insolvencies, which involved agreeing to resolution plan before declaring bankruptcy, could also be attempted, said Mr Srinivas Injeti, Corporate Affairs Secretary, MCA
AS the probe continues in IL&FS case, government officials say the auditors have many questions to answer "prime facie" as they are supposed to act as gate keepers and detect widespread irregularities
Who will Police the Policeman. This is the million dollar question being asked after Deloitte Huskin and Sells, one of the big four accounting firms, has been called out in the IL&FS case of turning a Nelson's eye on the company's debt pile
More than Rs 53,000 crore of bank loans to the crisis hit IL&FS are likely to be added to the bad loan books of the banks, with NCLAT allowing lenders to classify default loans as NPAs. However, banks cannot initiate recovery process against IL&FS entities until the resolution is found
The investigations wing of corporate affairs ministry, the SFIO, on Wednesday questioned the audit partner of BSR in Delhi, widening the ambit of its probe into the role of IL&FS case
ED has restraint Mr S S Dalal - the man who took IL&FS overseas and led its PE foray - from selling his property in Mumbai
IL&FS MF on Tuesday paid Rs 314 crore to investors in one of its infrastructure debt fund, making on time redemption, said the company release.
IL&FS Mutual Fund (IDF) today made on-time redemption in its first debt fund series, IL&FS Infrastructure Debt Fund Series 1-A (IDF Scheme A), on its due date ie April 30, 2019. The Scheme redeemed Rs. 314 crore to the investors, which was paid out today. IDF Scheme A, 5-year closed ended scheme, had raised Rs. 238 crore from various Institutional Investors and was fully funded in April 2014.
ITNL International, a subsidiary of ITNL, has put another asset on the block. It is now looking to divest 49% stake in the Chongqing Yuhe Expressway Company Limited
SFIO on Wednesday quizzed Udayan Sen, ex CEO of Deloitte, and two others on alleged audit lapse in the books of IL&FS