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IL&FS subsidiary IFIN to sell external corporate loan book of Rs 5000 cr
By Press Trust of India | Posted by Ayshee Bhaduri | Mumbai
PUBLISHED ON NOV 19, 2020 07:46 PM IST
According to the annual report of IFIN for 2018-19, it had a net loss of Rs 13,272 crore as compared to a net profit of Rs 9.5 crore in 2017-18.
HC rejects firm’s petition against IFIN’s decision to declare Rs 100 crore loan as NPA
By Kanchan Chaudhari | Edited by Sparshita Saxena | Hindustan Times, Mumbai
UPDATED ON OCT 31, 2020 02:03 PM IST
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.
Bombay HC refuses bail to former IL&FS executive Ramchand Karunakaran
By Kanchan Chaudhari | Edited by Sparshita Saxena | Hindustan Times, Mumbai
UPDATED ON OCT 30, 2020 12:10 PM IST
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.
IL&FS to operate Gurugram Rapid Metro till Sept 17, arbitration on cards
By Prayag Arora-Desai | Gurugram, Gurugram
UPDATED ON SEP 09, 2019 11:24 PM IST
Meanwhile, the Rapid Metro and Haryana government are expected to continue negotiations regarding transfer of assets, operation and maintenance of the service.
IL&FS case: MNS leader quizzed by ED for over 6 hours
By Pratik Salunkhe, Mumbai
UPDATED ON SEP 06, 2019 12:00 AM IST
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.
NCLT allows IL&FS to sell 7 wind assets to Orix for Rs 4,800 crore
By Shayan Ghosh | livemint, Mumbai
UPDATED ON AUG 29, 2019 02:43 PM IST
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.
‘Won’t stop speaking against government’: Raj Thackeray on questioning by ED in IL&FS case
By Naresh Kamath and Pratik Salunke | Hindustan Times, Mumbai
UPDATED ON AUG 23, 2019 09:15 AM IST
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.
The IL&FS case and the Raj Thackeray link, a timeline
By HT Correspondent | Hindustan Times,New Delhi
UPDATED ON AUG 22, 2019 01:22 PM IST
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 Thackeray questioned at ED’s Mumbai office for probe into IL&FS case
By Pratik Salunke | Hindustan Times, Mumbai
UPDATED ON JUN 19, 2020 02:41 AM IST
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.
Raj Thackeray reaches ED office for questioning in IL&FS case
By Naresh Kamath | Hindustan Times, Mumbai
UPDATED ON AUG 23, 2019 07:02 AM IST
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.
ED quizzes Rajan Shirodkar, Unmesh Joshi
By Pratik Salunke | MUMBAI
UPDATED ON AUG 21, 2019 03:58 AM IST
IL&FS gave loans and made equity investments worth ₹860 crore in Kohinoor CTNL, a firm started by Joshi, Shirodkar and Thackeray in 2005.
IL&FS case: Raj Thackeray to be quizzed on Aug 22
By Pratik Salunke | Hindustan Times, Mumbai
UPDATED ON AUG 20, 2019 10:37 AM IST
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.
IL&FS case: ED charge sheet says panel of directors failed to discharge duties in Mumbai
By Pratik Salunke | Mumbai, Mumbai
UPDATED ON AUG 18, 2019 03:11 PM IST
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.
Citing IL&FS, govt seeks rethink of EPF rate hike
By Rajeev Jayaswal | New Delhi
UPDATED ON JUN 20, 2019 08:27 AM IST
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
Former director of IL&FS remanded in judicial custody for a fortnight
By HT Correspondent | Mumbai
PUBLISHED ON APR 05, 2019 10:21 AM IST
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.
3 IL&FS officials taken into custody over unpaid wages issue
By Press Trust of India | Mumbai
UPDATED ON DEC 05, 2018 10:09 AM IST
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.
Ethiopian police take three IL&FS employees in custody over unpaid wages, five still in captivity of staff
By Press Trust of India | Mumbai
UPDATED ON DEC 04, 2018 07:59 PM IST
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.
7 employees of IL&FS India detained in Ethiopia since Nov 25 by unpaid local staff: Report
By Nizar Manek and Iain Marlow | Bloomberg, New Delhi/Nigeria
UPDATED ON NOV 30, 2018 11:32 AM IST
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.
IL&FS crisis: IndusInd Bank moves to NCLAT to recover Rs 25 crore interest
By Press Trust of India | Press Trust of India
UPDATED ON NOV 07, 2018 12:01 AM IST
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.
India considers option of selling debt-ridden lender
By Shruti Srivastava | Bloomberg, New Delhi
PUBLISHED ON OCT 30, 2018 04:31 PM IST
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.
IL&FS board to invite bid for assets by December
By Gireesh Chandra Prasad | Hindustan Times
PUBLISHED ON OCT 25, 2018 11:15 PM IST
NCLAT stays proceedings against IL&FS, group companies till further order
By Press Trust of India | New Delhi
PUBLISHED ON OCT 15, 2018 02:19 PM IST
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.
House panel to find out why infra giant IL&FS collapsed
By Saubhadra Chatterji | Hindustan Times, New Delhi
PUBLISHED ON OCT 12, 2018 11:04 PM IST
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 crisis: How the Modi government surprised everyone with takeover
By Saloni Shukla, Vrishti Beniwal & P R Sanjai | Bloomberg, New Delhi/Mumbai
UPDATED ON OCT 04, 2018 05:14 PM IST
Prime Minister Narendra Modi’s government also unveiled an investigation into IL&FS’s management by the Serious Fraud Investigation Office.
National saboteur: Jaitley blogs comeback to Congress on IL&FS debt crisis
By Press Trust of India | New Delhi
PUBLISHED ON OCT 01, 2018 10:41 PM IST
Finance minister Arun Jaitley on Monday accused the Congress of trying to spread misinformation about the developments in debt-ridden IL&FS.
Govt takes over indebted lender IL&FS in surprise move
By Saloni Shukla | Bloomberg
UPDATED ON OCT 01, 2018 06:27 PM IST
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.
Centre moves to sack board of indebted financier IL&FS, seeks court’s nod
By Bloomberg
UPDATED ON OCT 01, 2018 02:22 PM IST
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