In the news
23 Jan 2019

IL&FS may select Grant Thornton for forensic probe

Troubled infrastructure developer and lender Infrastructure Leasing & Financial Services is close to hiring Grant Thornton to investigate alleged irregularities in its operations.

In the news
23 Jan 2019

FinMin to seek special treatment for IL&FS loans

After the Reserve Bank of India (RBI) refused to allow banks to defer provisioning for IL&FS-related loans, lenders have now approached the Finance Ministry's department of financial services to exert pressure on the central bank.

In the news
23 Jan 2019

Edelweiss, India Infoline look to buy IL&FS unit

IL&FS Investment Managers has drawn interest from Edelweiss, India Infoline and Altico Capital, an industry source close to the development said.

In the news
23 Jan 2019

World Bank steps in to defuse IL&FS Ethiopia crisis

In a bid to end the crisis facing IL&FS employees in Ethiopia, the World Bank has asked the Ethiopian Roads Authority to look for a resolution at the earliest. The project, being executed by an IL&FS joint venture in Ethiopia, is funded by the World Bank.

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.

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