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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.
Published on Nov 19, 2020 07:46 PM IST
Mumbai | Press 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.
Updated on Oct 31, 2020 02:03 PM IST
Hindustan Times, Mumbai | Kanchan 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.
Updated on Oct 30, 2020 12:10 PM IST
Hindustan Times, Mumbai | Kanchan 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.
Updated on Sep 09, 2019 11:24 PM IST
Gurugram | Prayag 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.
Updated on Sep 06, 2019 12:00 AM IST
Pratik 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.
Updated on Aug 29, 2019 02:43 PM IST
livemint, Mumbai | Shayan 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.
Updated on Aug 23, 2019 09:15 AM IST
Hindustan Times, Mumbai | Naresh 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.
Updated on Aug 22, 2019 01:22 PM IST
Hindustan Times,New Delhi | HT Correspondent
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.
Updated on Jun 19, 2020 02:41 AM IST
Hindustan Times, Mumbai | Pratik Salunke
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.
Updated on Aug 23, 2019 07:02 AM IST
Hindustan Times, Mumbai | Naresh Kamath
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.
Updated on Aug 21, 2019 03:58 AM IST
MUMBAI | Pratik Salunke
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.
Updated on Aug 20, 2019 10:37 AM IST
Hindustan Times, Mumbai | Pratik Salunke
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.
Updated on Aug 18, 2019 03:11 PM IST
Mumbai | Pratik Salunke, 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
Updated on Jun 20, 2019 08:27 AM IST
New Delhi | Rajeev 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.
Published on Apr 05, 2019 10:21 AM IST
Mumbai | HT Correspondent
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.
Updated on Dec 05, 2018 10:09 AM IST
Mumbai | Press 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.
Updated on Dec 04, 2018 07:59 PM IST
Mumbai | Press 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.
Updated on Nov 30, 2018 11:32 AM IST
Bloomberg, New Delhi/Nigeria | Nizar 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.
Updated on Nov 07, 2018 12:01 AM IST
Press Trust of India | Press 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.
Published on Oct 30, 2018 04:31 PM IST
Bloomberg, New Delhi | Shruti 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.
Published on Oct 25, 2018 11:15 PM IST
Hindustan Times | Gireesh 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.
Published on Oct 15, 2018 02:19 PM IST
New Delhi | Press 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.
Published on Oct 12, 2018 11:04 PM IST
Hindustan Times, New Delhi | Saubhadra Chatterji
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.
Updated on Oct 04, 2018 05:14 PM IST
Bloomberg, New Delhi/Mumbai | Saloni 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.
Published on Oct 01, 2018 10:41 PM IST
New Delhi | Press 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.
Updated on Oct 01, 2018 06:27 PM IST
Bloomberg | Saloni 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
Updated on Oct 01, 2018 02:22 PM IST
Bloomberg