"We should be able to recover, restructure, resolve over 50% and cross the 50% mark based on our best judgement " said Mr Kotak, Chairman, IL&FS
The Board of Directors of IL&FS addressed the media on the completion of One year term.
The SFIO and other regulators have asked four credit rating agencies - CARE ICRA India Ratings and Brickwork - for information on money they received from IL&FS and its subsidiaries as rating and non-rating fees to determine if there was any round tripping of funds or favor granted, said three people familiar with the development.
Debt laden IL&FS has started repaying the creditors of three group entities , with outstanding claims of Rs 5,071 crore, according to affidavit filed with appellate tribunal on Thursday
SEBI has slapped Rs 10 Lakh fine on IL&FS for not disclosing price sensitive information pertaining to fund raising through rights issue and asset divestment plan to stock exchange
The Haryana government, on Wednesday, approached the Punjab and Haryana High Court (HC) seeking appointment of the Comptroller and Auditor General (CAG) of India for conducting a forensic audit of the Rapid Metro’s finances.
The Punjab and Haryana High Court has adjourned the hearing on the dispute over the handover of Rapid Metro Rail Project in Gurgaon to September 17, 2019. Till then both RMGSL and RMGL will continue to run it, the court said
IL&FS has received binding financial offers aggregating close to Rs. 13,000 crore for ten Domestic Road Assets. These bids were opened on September 9, 2019. In addition to the above, IL&FS Group entities continue to hold rights to receive claims with Gross Value exceeding Rs 1,900 crore, filed with various concession authorities in respect of these assets. The combined value of bids and these claims will help address the cumulative financial debt of Rs. 17,700 crore, as of October 2018, in these assets.
In a bid to classify Amber Companies into Green, the new Board of IL&FS presented the creditors of these entities debt restructuring proposals
A year after IL&FS collapsed leading to a crisis in the financial sector, the resolution process set by the new Board has slowly but steadily started yielding results with 10 Road projects attracting investor interest and seven wind energy assets being sold