[

il&fs

]

Latest from il&fs

IL&FS subsidiary IFIN to sell external corporate loan book of 5000 cr

According to the annual report of IFIN for 2018-19, it had a net loss of 13,272 crore as compared to a net profit of 9.5 crore in 2017-18.
Last month, the debt laden IL&FS Group had said it was able to address debt of just around <span class='webrupee'>₹</span>1,460 crore in the second quarter of 2020-21 as against an earlier estimate of around <span class='webrupee'>₹</span>8,800 crore during the period(Twitter)
Last month, the debt laden IL&FS Group had said it was able to address debt of just around 1,460 crore in the second quarter of 2020-21 as against an earlier estimate of around 8,800 crore during the period(Twitter)
Published on Nov 19, 2020 07:46 PM IST
Copy Link
Mumbai | ByPress Trust of India | Posted by Ayshee Bhaduri

HC rejects firm’s petition against IFIN’s decision to declare 100 crore loan as NPA

The bench comprising Justice Nitin Jamdar and Justice Milind Jadhav refused to believe in Wavell’s claim that it was a victim of the loan scam at IL&FS group.
File photo: Bombay High Court.(Girish Srivastava/HT)
File photo: Bombay High Court.(Girish Srivastava/HT)
Updated on Oct 31, 2020 02:03 PM IST
Copy Link
Hindustan Times, Mumbai | ByKanchan Chaudhari | Edited by Sparshita Saxena

Bombay HC refuses bail to former IL&FS executive Ramchand Karunakaran

Karunakaran was arrested by the ED on June 19, 2019, in connection with the proceedings under provisions of the Prevention of Money Laundering Act, 2002.
Bombay High Court.(Girish Srivastava)
Bombay High Court.(Girish Srivastava)
Updated on Oct 30, 2020 12:10 PM IST
Copy Link
Hindustan Times, Mumbai | ByKanchan Chaudhari | Edited by Sparshita Saxena

IL&FS to operate Gurugram Rapid Metro till Sept 17, arbitration on cards

Meanwhile, the Rapid Metro and Haryana government are expected to continue negotiations regarding transfer of assets, operation and maintenance of the service.
On June 7, the Rapid Metro had served a termination notice to the Haryana government, citing inability to operate the service beyond September 8 due to lack of funds.
On June 7, the Rapid Metro had served a termination notice to the Haryana government, citing inability to operate the service beyond September 8 due to lack of funds.
Updated on Sep 09, 2019 11:24 PM IST
Copy Link
Gurugram | ByPrayag Arora-Desai, Gurugram

IL&FS case: MNS leader quizzed by ED for over 6 hours

This is the first time Sardesai appeared before the agency for questioning after he was summoned. During his exit from the ED office, Sardesai refused to comment on the matter.
The Enforcement Directorate (ED) on Thursday questioned senior Maharashtra Navnirman Sena (MNS) leader Nitin Sardesai in connection with their ongoing investigation in the Infrastructure Leasing and Financial Services Ltd (IL&FS) money laundering case.(Hindustan Times)
The Enforcement Directorate (ED) on Thursday questioned senior Maharashtra Navnirman Sena (MNS) leader Nitin Sardesai in connection with their ongoing investigation in the Infrastructure Leasing and Financial Services Ltd (IL&FS) money laundering case.(Hindustan Times)
Updated on Sep 06, 2019 12:00 AM IST
Copy Link
ByPratik Salunkhe, Mumbai

NCLT allows IL&FS to sell 7 wind assets to Orix for 4,800 crore

Orix Corporation is an equity partner in the group and owns 49% stake in each of these seven operating wind power plants. The seven wind power SPVs include Lalpur Wind Energy, Etesian Urja, Khandke Wind Energy, Retadi Wind Power, Wind Urja Indiae, Tadas Wind Energy and Kaze Energy.
(Mint file photo)
(Mint file photo)
Updated on Aug 29, 2019 02:43 PM IST
Copy Link
livemint, Mumbai | ByShayan Ghosh

‘Won’t stop speaking against government’: Raj Thackeray on questioning by ED in IL&FS case

Maharashtra Navnirman Sena chief Raj Thackeray remains defiant despite being grilled by ED for 8 hours in connection with the IL&FS money laundering case; says they can quiz him as much as they want.
MNS chief Raj Thackeray coming out of ED office at Ballard Estate in Mumbai, after being questioned in the IL&FS case, on Thursday, Aug. 22, 2019.(Vijayanand Gupta / HT Photo)
MNS chief Raj Thackeray coming out of ED office at Ballard Estate in Mumbai, after being questioned in the IL&FS case, on Thursday, Aug. 22, 2019.(Vijayanand Gupta / HT Photo)
Updated on Aug 23, 2019 09:15 AM IST
Copy Link
Hindustan Times, Mumbai | ByNaresh Kamath and Pratik Salunke

The IL&FS case and the Raj Thackeray link, a timeline

The MNS leader Raj Thackery reached the ED office around 11.30 am, accompanied by wife Sharmila, son Amit and daughter in law Mitali. After Raj entered the office alone, his family members camped at a nearby hotel.
Raj Thackery , on Thursday appeared before the Enforcement Directorate in connection with the probe into the Infrastructure Leasing & Financial Services.(Pratik Chorge/HT PHOTO)
Raj Thackery , on Thursday appeared before the Enforcement Directorate in connection with the probe into the Infrastructure Leasing & Financial Services.(Pratik Chorge/HT PHOTO)
Updated on Aug 22, 2019 01:22 PM IST
Copy Link
Hindustan Times,New Delhi | By

Raj Thackeray questioned at ED’s Mumbai office for probe into IL&FS case

In response to an ED notice, Maharashtra Navnirman Sena chief Raj Thackeray reached the ED’s office in South Mumbai where he is being questioned in the IL&FS case.
Maharashtra Navnirman Sena (MNS) chief Raj Thackeray arrives at the ED office on Thursday.(HT PHOTO.)
Maharashtra Navnirman Sena (MNS) chief Raj Thackeray arrives at the ED office on Thursday.(HT PHOTO.)
Updated on Jun 19, 2020 02:41 AM IST
Copy Link
Hindustan Times, Mumbai | By

Raj Thackeray reaches ED office for questioning in IL&FS case

In response to ED notice, Maharashtra Navnirman Sena chief Raj Thackeray arrived at the ED’s office in South Mumbai for questioning in the IL&FS case.
Maharashtra Navnirman Sena (MNS) chief Raj Thackeray arrives at the ED office on Thursday.(HT PHOTO.)
Maharashtra Navnirman Sena (MNS) chief Raj Thackeray arrives at the ED office on Thursday.(HT PHOTO.)
Updated on Aug 23, 2019 07:02 AM IST
Copy Link
Hindustan Times, Mumbai | By

ED quizzes Rajan Shirodkar, Unmesh Joshi

IL&FS gave loans and made equity investments worth 860 crore in Kohinoor CTNL, a firm started by Joshi, Shirodkar and Thackeray in 2005.
ED sources stated they are scanning the details of the deals to check if there was any fund diversion – where the money is used for purposes other than for which it is given.(HT image)
ED sources stated they are scanning the details of the deals to check if there was any fund diversion – where the money is used for purposes other than for which it is given.(HT image)
Updated on Aug 21, 2019 03:58 AM IST
Copy Link
MUMBAI | By

IL&FS case: Raj Thackeray to be quizzed on Aug 22

The IL&FS group has dues amounting to around 91,000 crore and was taken over by the Indian government late last year after it defaulted on some of its debt.
The Enforcement Directorate (ED) has summoned Maharashtra Navnirman Sena (MNS) chief Raj Thackeray for questioning on August 22 regarding the ongoing investigation on Infrastructure Leasing & Financial Services (IL&FS) group.(IANS Photo)
The Enforcement Directorate (ED) has summoned Maharashtra Navnirman Sena (MNS) chief Raj Thackeray for questioning on August 22 regarding the ongoing investigation on Infrastructure Leasing & Financial Services (IL&FS) group.(IANS Photo)
Updated on Aug 20, 2019 10:37 AM IST
Copy Link
Hindustan Times, Mumbai | By

IL&FS case: ED charge sheet says panel of directors failed to discharge duties in Mumbai

ED on Friday said the actions taken by a committee of directors (CoDs) of Infrastructure Leasing & Financial Services (IL&FS) were merely a sham and disguised.
The ED, which is probing the money laundering case involving IL&FS, filed a charge sheet on Friday.(REUTERS photo)
The ED, which is probing the money laundering case involving IL&FS, filed a charge sheet on Friday.(REUTERS photo)
Updated on Aug 18, 2019 03:11 PM IST
Copy Link
Mumbai | By, Mumbai

Citing IL&FS, govt seeks rethink of EPF rate hike

The EPF interest rate was at a five-year low of 8.55% in the 2017-18 fiscal, and the 8.65% proposal, made in the run-up to the general elections in February, would have benefited the roughly 45 million subscribers to the retirement savings accoun
The finance ministry objected to the proposal, citing investments in the troubled IL&FS group companies as one of the factors.((Mint file photo))
The finance ministry objected to the proposal, citing investments in the troubled IL&FS group companies as one of the factors.((Mint file photo))
Updated on Jun 20, 2019 08:27 AM IST
Copy Link
New Delhi | ByRajeev Jayaswal

Former director of IL&FS remanded in judicial custody for a fortnight

Hari Sankaran, who was arrested on Monday as part of the investigation into the affairs of IL&FS and its subsidiaries, including IL&FS Financial Services Limited (IFIN), has been remanded in judicial custody for 14 days.
Former director of IL&FS Hari Sankaran(Mint / File Photo)
Former director of IL&FS Hari Sankaran(Mint / File Photo)
Published on Apr 05, 2019 10:21 AM IST
Copy Link
Mumbai | By

3 IL&FS officials taken into custody over unpaid wages issue

IL&FS arm ITNL through its wholly owned subsidiary, Elsamex SA, has been executing road projects across three sites in Ethiopia. IL&FS has defaulted on paying both taxes and local employee pensions for nine months.
3 IL&FS officials have been taken into custody over unpaid wages issue. (Representational Image)(HT File Photo)
3 IL&FS officials have been taken into custody over unpaid wages issue. (Representational Image)(HT File Photo)
Updated on Dec 05, 2018 10:09 AM IST
Copy Link
Mumbai | ByPress Trust of India

Ethiopian police take three IL&FS employees in custody over unpaid wages, five still in captivity of staff

Even as five IL&FS employees continue to remain in captivity of unpaid staff in Ethiopia, the local police have taken into custody three Indian officials of the infrastructure company over non-payment of taxes and workers’ salaries, a source said.
IL&FS Group and its various subsidiaries, including ITNL, are facing liquidity crisis and have defaulted on various debt payments. As of October 8, 2018, the total debt of the group stood at Rs 94,215.6 crore.(Reuters)
IL&FS Group and its various subsidiaries, including ITNL, are facing liquidity crisis and have defaulted on various debt payments. As of October 8, 2018, the total debt of the group stood at Rs 94,215.6 crore.(Reuters)
Updated on Dec 04, 2018 07:59 PM IST
Copy Link
Mumbai | ByPress Trust of India

7 employees of IL&FS India detained in Ethiopia since Nov 25 by unpaid local staff: Report

Seven Indian workers from infrastructure financing firm IL&FS have been detained since Nov. 25 at three sites in Ethiopia’s Oromia and Amhara states by unpaid local staff, according to an emailed letter from the employees.
The employees said police and officials are taking the side of locals against the expatriate staff and that they were caught in the “middle of corporate disagreements, blame games and bureaucratic issues.”(Reuters File Photo)
The employees said police and officials are taking the side of locals against the expatriate staff and that they were caught in the “middle of corporate disagreements, blame games and bureaucratic issues.”(Reuters File Photo)
Updated on Nov 30, 2018 11:32 AM IST
Copy Link
Bloomberg, New Delhi/Nigeria | ByNizar Manek and Iain Marlow

IL&FS crisis: IndusInd Bank moves to NCLAT to recover 25 crore interest

The appellate tribunal has directed to list the matter on November 13, when it would hear the main matter. Last month, the government superseded the board of IL&FS to protect the interest of investors.
If IL&FS fails to pay the interest amount of <span class='webrupee'>₹</span>25 crore due to the bank, it will be classified as an NPA account as per the RBI guidelines(HT File Photo)
If IL&FS fails to pay the interest amount of 25 crore due to the bank, it will be classified as an NPA account as per the RBI guidelines(HT File Photo)
Updated on Nov 07, 2018 12:01 AM IST
Copy Link
Press Trust of India | ByPress Trust of India

India considers option of selling debt-ridden lender

India is examining options including an outright sale of Infrastructure Leasing & Financial Services Ltd., a person with knowledge of the matter said, as the government tries to stem defaults at the lender with $12.6 billion of debt.
The Serious Fraud Investigation Office this month started an investigation into IL&FS.(File Photo)
The Serious Fraud Investigation Office this month started an investigation into IL&FS.(File Photo)
Published on Oct 30, 2018 04:31 PM IST
Copy Link
Bloomberg, New Delhi | ByShruti Srivastava

IL&FS board to invite bid for assets by December

The government-appointed board of directors of Infrastructure Leasing & Financial Services Ltd (IL&FS) board will update the National Company Law Tribunal (NCLT) on 31 October about the revival plan, after which it will seek consent from lenders and shareholders.
The government-appointed board of directors of Infrastructure Leasing & Financial Services Ltd (IL&FS) board will update the National Company Law Tribunal (NCLT) on 31 October about the revival plan, after which it will seek consent from lenders and shareholders.(Mint Photo)
The government-appointed board of directors of Infrastructure Leasing & Financial Services Ltd (IL&FS) board will update the National Company Law Tribunal (NCLT) on 31 October about the revival plan, after which it will seek consent from lenders and shareholders.(Mint Photo)
Published on Oct 25, 2018 11:15 PM IST
Copy Link
Hindustan Times | ByGireesh Chandra Prasad

NCLAT stays proceedings against IL&FS, group companies till further order

The NCLAT order came on an urgent petition moved by the ministry of corporate affairs after the Mumbai bench of NCLT had turned down its plea for 90 days moratorium over the loans taken by the IL&FS and its subsidiaries.
A two-member bench of the NCLAT on October 15, 2018, stayed all proceedings against IL&FS and other group companies till further order on an urgent petition moved by the ministry of corporate affairs.(Reuters File)
A two-member bench of the NCLAT on October 15, 2018, stayed all proceedings against IL&FS and other group companies till further order on an urgent petition moved by the ministry of corporate affairs.(Reuters File)
Published on Oct 15, 2018 02:19 PM IST
Copy Link
New Delhi | ByPress Trust of India

House panel to find out why infra giant IL&FS collapsed

Parliament’s standing committee on finance will review the IL&FS case that triggered widespread panic in the Indian stock markets after it defaulted on payments.
IL&FS had accumulated a whopping $12.6 billion debt burden after a string of defaults, prompting the Centre to move quickly, amid a rapid fall in the sector’s stock prices, to take control of the infrastructure lending giant.(Reuters)
IL&FS had accumulated a whopping $12.6 billion debt burden after a string of defaults, prompting the Centre to move quickly, amid a rapid fall in the sector’s stock prices, to take control of the infrastructure lending giant.(Reuters)
Published on Oct 12, 2018 11:04 PM IST
Copy Link
Hindustan Times, New Delhi | By

IL&FS crisis: How the Modi government surprised everyone with takeover

Prime Minister Narendra Modi’s government also unveiled an investigation into IL&FS’s management by the Serious Fraud Investigation Office.
Prime Minister Narendra Modi and Finance Minister Arun Jaitley.(PTI FILE PHOTO)
Prime Minister Narendra Modi and Finance Minister Arun Jaitley.(PTI FILE PHOTO)
Updated on Oct 04, 2018 05:14 PM IST
Copy Link
Bloomberg, New Delhi/Mumbai | BySaloni Shukla, Vrishti Beniwal & P R Sanjai

National saboteur: Jaitley blogs comeback to Congress on IL&FS debt crisis

Finance minister Arun Jaitley on Monday accused the Congress of trying to spread misinformation about the developments in debt-ridden IL&FS.
Finance minister Arun Jaitley asked Rahul Gandhi to read a letter written by senior Congress leader KV Thomas on September 20, 2018, who suggested to the government to “support IL&FS”.(AP/File Photo)
Finance minister Arun Jaitley asked Rahul Gandhi to read a letter written by senior Congress leader KV Thomas on September 20, 2018, who suggested to the government to “support IL&FS”.(AP/File Photo)
Published on Oct 01, 2018 10:41 PM IST
Copy Link
New Delhi | ByPress Trust of India

Govt takes over indebted lender IL&FS in surprise move

he dramatic move, which unfolded within the span of a hectic day in Mumbai, underscores the government’s concern about IL&FS’s defaults spreading to other lenders in the world’s fastest-growing major economy.
PF6997 New development in Bandra Kurla Complex area, Mumbai, Maharashtra, India.(Alamy Stock Photo)
PF6997 New development in Bandra Kurla Complex area, Mumbai, Maharashtra, India.(Alamy Stock Photo)
Updated on Oct 01, 2018 06:27 PM IST
Copy Link
Bloomberg | BySaloni Shukla

Centre moves to sack board of indebted financier IL&FS, seeks court’s nod

The government told the National Company Law Tribunal that it wants to take control of IL&FS by “sunset” and appoint 10 directors on a board it constitutes
Rescuing IL&FS group, which has total debt of $12.6 billion is vital for authorities to stem the risk of default spreading to other lenders.(Alamy Stock Photo)
Rescuing IL&FS group, which has total debt of $12.6 billion is vital for authorities to stem the risk of default spreading to other lenders.(Alamy Stock Photo)
Updated on Oct 01, 2018 02:22 PM IST
Copy Link
ByBloomberg
SHARE
Story Saved
×
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Wednesday, January 26, 2022