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.

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.

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