Il&fs Financial Services

IL&FS approves Siva Shelters's proposal to restructure loan to subsidiary

Siva Shelters offers to pay 20% of settlement amount immediately on signing of agreement

IFIN recovers Rs 2,300 cr from third party borrowers, external investments

IFIN had placed 62 non-performing asset (NPA) accounts worth Rs 4,297 crore on sale, which was to be done through the 'Swiss Challenge' route

Crisis-hit IL&FS plans to divest its 26% stake in OTPC, invites bidding

In terms of eligibility for bidding, corporate bodies should have a minimum net worth of Rs 150 crore as per the audited balance sheet as of March 31, 2019 or later

IL&FS Financial Services got back Rs 1,380 crore of dues by end-November

One of the key holding companies in the IL&FS group, it provided loans to various third-party borrowers and many entities of the group

IL&FS money laundering case: ED summons Raj Thackeray, Manohar Joshi's son

The Enforcement Directorate (ED) has summoned MNS party chief Raj Thackeray in connection with its money laundering probe in the IL&FS alleged payment default crisis case, officials said on Monday. It had also called Unmesh Joshi, son of former state chief minister and Shiv Sena leader Manohar Joshi, in the same case after which he deposed before the central agency in Mumbai on Monday, they said. Unmesh Joshi's statement has been recorded under the Prevention of Money Laundering Act (PMLA), they said. Officials said the Maharashtra Navnirman Sena (MNS) chief has been asked to appear before the investigating officer of the case on August 22 at the agency's zonal office in Mumbai. The MNS dubbed as "political vendetta" the ED move to issue the notice to its cheif to join investigations. "Raj Thackeray created a sensation during the Lok Sabha poll campaign earlier this year. It had a significant impact on people and to avoid a similar challenge ahead of the Maharashtra Assembly ...

NCLT allows MCA to appoint statutory auditors to IL&FS Financial Services

IFIN, in its board meeting, had appointed Mukund M Chitale & Co the statutory auditor for the company.

NCLAT declines interim relief to Deloitte, BSR Associates in IL&FS case

The National Company Law Appellate Tribunal (NCLAT) on Tuesday declined to give any interim relief to auditing firms Deloitte Haskins & Sells LLP and B S R Associates LLP with regard to a ban imposed on them in the IL&FS case. The NCLT Mumbai will continue its scheduled hearing in the case of their alleged role in the IL&FS fraud matter, a three-member bench headed by Chairperson Justice S J Mukhopadhaya said. The NCLAT, however, said that the NCLT will not pass any final order till its next hearing on September 20. Listing the matter for September 20, the NCLAT also issued a notice to the Ministry of Corporate Affairs to file its reply within two weeks. The NCLAT was hearing appeals filed by Deloitte and BSR against the order of the Mumbai bench of the National Company Law Tribunal (NCLT), which on August 9, rejected their pleas of challenging its jurisdiction to ban them from the business for five years for their omissions and commissions in the IL&FS Group scam. The

Credit rating agencies likely to get access to loan default details

At present, banks do not share with CRAs details of a company's existing and future borrowing

IL&FS money laundering case: Enforcement Directorate files 1st chargesheet

The prosecution complaint was filed in a special court of the Prevention of Money Laundering Act, charging former senior management personnel of IL&FS along with Aircel founder C Sivasankaran

Banks debited Rs 758 crore from IL&FS accounts despite NCLAT order

MCA names SBI, HDFC Bank, PNB, ICICI Bank among others, says they violated appellate tribunal moratorium

Sebi seeks explanation from 5 rating agencies on collusion with IL&FS brass

Grant Thornton's audit report had pointed at possible collusion between rating agencies, IL&FS brass

Deloitte, KPMG seek stay on NCLT order to prosecute them for IFIN auditing

NCLT reserves order on ministry of corporate affairs' plea to ban auditing firms for five years.

IL&FS Financial Services defaults on Rs 4.4-billion loan and deposits

The company has also failed to make payments for five bank loans

IL&FS Financial Services misses loan repayments to host of banks this month

MUMBAI (Reuters) - IL&FS Financial Services, part of India's Infrastructure Leasing & Financial Services (IL&FS), said on Thursday it missed repayments on a host of bank loans and some term deposits due this month.

IL&FS Financial Services MD & CEO Ramesh Bawa, independent directors quit

Non-executive director Vibhav Kapoor has also resigned; Kaushik Modak names new CEO

No taker yet for IL&FS Financial Services; high NPAs keep investors away

Investors said the financials of IFIN for the financial year 2018 were not looking good