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IL&FS News

25 Feb 2022

NBFCs to see stability in FY23; capital, margins, provisioning strengths

The agency, which maintained a 'neutral' sector outlook and 'stable' rating outlook for the NBFCs, said its expectations will hold true in the absence of any negative event. Credit growth for entities it rates will rise to 14 per cent in FY23 from 8 per cent in FY22. Since the default by IL&FS in 2017, NBFCs have faced difficulties which only aggravated with the outbreak of the pandemic, which affected liquidity.

25 Jul 2021

Delhi police arrests IL&FS director in Rs 100 crore cheating case

Delhi police arrested IL&FS director He was accused of misappropriating about Rs 100 crore

Infrastructure Leasing and Financial Services

20 Jul 2020

IL&FS lays out road map to address over Rs 57,000 cr of debt

Till June 30, 2020, the debt-laden company has addressed debt of Rs 17,640 crore. The new board shared a quarterly plan that estimates addressing additional debt of Rs 8,800 crore by second quarter of FY21 Rs 18,000 crore by the third quarter of FY21 and over Rs 6,000 crore by the end of fourth quarter of FY21.

23 Aug 2019

Complainant in Aircel-Maxis case ironically named in IL&FS case

Sivasankaran in his complaint with the CBI in 2011 had alleged that the then telecom minister Dayanidhi Maran coerced him to sell his stake in Aircel which he had founded.

22 Aug 2019

Loans from NBFCs to developers halved in FY19: Report

The report observed that default by leading NBFC, IL&FS, in scheduled payments led to a liquidity squeeze in the real estate sector since September 2018.

21 Aug 2019

ED lays bare IL&FS cabal modus operandi of Rs 7,400 cr loot and scoot

The conclusion is that it was pretty much a circus with Ravi Parthasarthy as the ringmaster or even King as the rest of the crew played courtiers.

19 Aug 2019

ED sends notice to Raj Thackeray in connection with IL&FS scam case

The ED has summoned Maharashtra Navnirman Sena chief as well as Shiv Sena leader Manohar Joshi's son Unmesh Joshi.

14 Aug 2019

IL&FS cuts nearly 50% staff since October for cost cutting

In its fifth progress report on the group`s resolution process and the way forward, submitted to the Mumbai-bench of the National Company Law Tribunal (NCLT), the company said that the measure has helped reduce its wage bill by nearly 47 per cent.

03 Jul 2019

How IL&FS colluded with rating agencies

The Serious Fraud Investigation Office (SFIO) report points out gaping holes in the style of functioning of rating agencies which were complicit with the rogue management.

19 Jun 2019

IL&FS crisis: ED arrests ITNL MD Arun K Saha, CEO K Ramchand

The crisis at IL&FS came to light last year after some group companies defaulted on debt repayments.

14 Jun 2019

Sebi tightens disclosure norms for credit rating agencies

The regulator's move comes against the backdrop of rising instances of debt defaults and concerns over the role of credit rating agencies in assessing the possible risks.

15 May 2019

IL&FS crisis: Independent directors come under corp affairs ministry scanner

The crisis at IL&FS, which is estimated to have a debt burden of over Rs 94,000 crore, came to light last year after some group companies defaulted on debt repayments.

10 May 2019

RBI withdraws circular asking banks to declare exposure to IL&FS

Last week, the National Company Law Appellate Tribunal (NCLAT) had allowed banks to declare their defaulting accounts of Infrastructure Leasing & Financial Services (IL&FS) and its group companies as non-performing assets.

09 May 2019

IL&FS resolution on track; green cos' debt likely to be settled by July

The board of diversified IL&FS group, which is estimated to have a debt burden of over Rs 94,000 crore, was superseded by the corporate affairs ministry in October last year.

Reserve Bank of India

19 Mar 2019

RBI seeks modification of NCLAT order in ILFS case

A two-member NCLAT bench, headed by Justice S J Mukhopadhaya, has said that it would hear the RBI on the issue.

IL&FS debt resolution plan

05 Feb 2019

Govt submits resolution plan for IL&FS

The entire resolution process would be based on the principles enunciated in the Insolvency and Bankruptcy Code.

29 Jan 2019

IL&FS, NCLT accounts roil BoI nos; net loss soars to Rs 4,738 crore

The city-based bank, under the prompt corrective action (PCA) framework of the Reserve Bank since 2017, had reported a net loss of Rs 2,341 crore in the year-ago period.

18 Jan 2019

IL&FS says unable to meet interest payment obligation

Infrastructure Leasing & Financial Services (IL&FS) and some its group entities in the past few months have defaulted debt repayments, triggering concerns over liquidity in the financial system.

17 Jan 2019

IL&FS ex-directors seek clarification on asset freeze from NCLT

The order had restrained the former directors from mortgaging, or third-party interests or in any way alienating movable or immovable or jointly held properties.

31 Dec 2018

IL&FS puts commercial, residential properties up for sale

It has invited bids from interested buyers for properties (commercial and residential) in Mumbai and one in Kolkata.

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