Corporate Affairs Secretary Injeti Srinivas said the credibility of rating agencies has come under a cloud after the IL&FS crisis

Creditors can expect a fair distribution of Proceeds from the IL&FS Resolution Process, reports ET

The Board of IL&FS held its second press conference and shared an update on the Progress made in the last six months. The presentation made is enclosed

The Full Press Conference link - credit Bloomberg Quint

The Serious Fraud Investigation Office (SFIO) has made its first big arrest in the IL&FS by taking its former vice-chairman Mr Hari Sankaran into custody today.

The position of Independent Directors in IL&FS and its Group companies, once a prized job for retired bureaucrats and top corporate executives, has lost its shine - as many as 77 positions are vacant and there are few takers

IL&FS defaults highlights the need to tighten the regulatory framework governing Credit Rating agencies

Board of IL&FS wants immunity for Directors, Financial Advisors from any Financial, Legal or Regulatory Liability. ET Reports

RBI has moved NCLAT against its order restricting financial institutions from identifying the accounts of debt laden IL&FS group companies as NPA. The Bench, however, replied that it had not prohibited banks from recoqnising NPAs but has only asked the banks to seek the permission from NCLAT before doing so

Asset Monetisation is the best way forward for IL&FS, but it is likely to be a long drawn process