In the news
4 Mar 2019

Grant Thornton Flags Rs 13kcr IL&FS Dealings as Suspect

Transactions worth more than Rs 13,000 crore at Infrastructure Leasing & Financial Services (IL&FS) could be linked to irregularities such as conflicts of interest, inadequate risk assessment and deviation from banking norms, audit firm Grant Thornton India has said in its interim report to the board of the embattled infrastructure financier.

In the news
28 Feb 2019

IL&FS sees mgmt collusion, fraud in IFIN’s bad loans

The government-appointed board of IL&FS is planning to initiate criminal proceedings against several defaulters of IL&FS Financial Services (IFIN), charging them of colluding with the erstwhile management. This is after discovering large-scale irregularities, which includes ever-greening of loans and funds being routed to entities.

In the news
26 Feb 2019

IL&FS lenders to save Rs 10,000 crore in Q4 post NCLAT breather

A bankruptcy appeals court ruling, which ordered Monday that no loan account of IL&FS and its units be put into the nonperforming category without its approval, would save lenders about Rs 10,000 crore in March-quarter provisioning costs, two people aware of the development said.

In the news
26 Feb 2019

Four IL&FS Transportation Network staffers held hostage in Ethiopia return

IL&FS Transportation Network Ltd (ITNL), part of the IL&FS Group, on Monday said it has been able to secure the safe return of its four employees, who were held hostage in Ethiopia.

Press release
25 Feb 2019

ITNL SECURES SAFE RETURN OF EMPLOYEES IN ETHIOPIA

IL&FS Transportation Network Limited (ITNL), a part of IL&FS Group, confirms that it has been able to secure safe return of its 4 employees, working on projects in Ethiopia, to India.

In the news
21 Feb 2019

IL&FS to be probed for money laundering

The Enforcement Directorate (ED) has registered a money laundering case in the matter concerning alleged financial irregularities in Infrastructure Leasing and Financial Services (IL&FS) Ltd.

In the news
18 Feb 2019

IL&FS to form creditors’ panel to assess dues

The board of Infrastructure Leasing & Financial Services will form committees of creditors at asset levels — the special purpose vehicles (SPVs) managing its projects — to assess their outstanding payments. It is also looking to appoint a claim adviser at the group level to coordinate the activity, people familiar with the matter said.

In the news
13 Feb 2019

With direct resolution of holding companies ‘unlikely’, IL&FS Board may sell group firms

The government and the board of directors of debt-laden Infrastructure Leasing and Financial Services (IL&FS) are looking at sale of individual group companies as they believe the direct resolution of vertical holding companies such as IL&FS Transportation Networks is “unlikely”.

In the news
13 Feb 2019

Parliamentary panel on finance seeks inquiry commission into IL&FS crisis

The parliamentary standing committee on finance has asked the government to set up a high-level inquiry commission to identify the reasons behind the Infrastructure Leasing & Financial Services Ltd (IL&FS) default crisis.

In the news
13 Feb 2019

Between 2014-2018: HNIs, family & EPF trusts subscribed to NCDs and preference shares of IL&FS

According to data accessed by The Indian Express, several high net worth individuals (HNIs); private family trusts; employees provident fund trusts of public and private firms too have subscribed to the non-convertible debentures (NCDs) and preference shares of Infrastructure Leasing and Financial Service (IL&FS) Ltd between 2014-2018 and are now keenly awaiting a resolution of the crisis at IL&FS Group.

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