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IL&FS group initiates Rs 5,000 crore interim payout to eligible creditors

February 19, 2025 9:02 am

Post this payout, the aggregate debt discharged across IL&FS Group companies will stand at approximately Rs 43,000 crore

CBI registers case against IL&FS subsidiary for allegedly defrauding 19 banks

June 03, 2023 8:53 am

The fraud by IL&FS Transportation Network Ltd (ITNL) and its directors came to light after the National Company Law Tribunal in 2018 appointed a new board of directors that took over the parent firm IL&FS.

Ex-chairman of debt-hit IL&FS Ravi Parthasarathy passes away

April 28, 2022 12:14 am

Former non-executive chairman of Infrastructure Leasing & Financial Services (IL&FS) Ravi Parthasarathy passed away on Wednesday.

IL&FS resolution needs to be examined carefully — it offers learnings for increasing effectiveness of process

March 31, 2022 9:26 am

The longer the delays in resolving a stressed entity, greater is the value erosion. Then there is also the issue of adherence to contracts.

IL&FS resolves Rs 55,000-cr debt; Uday Kotak to exit as tenure ends

March 30, 2022 10:48 am

Infrastructure Leasing & Financial Services Ltd (IL&FS) has addressed debt resolution of Rs 55,000 crore, or nearly 55 per cent of the debt, after the group became a defaulter, and the government superseded its board in October 2018.

Eye on value, govt seeks to ‘fast-track’ IL&FS resolution

September 15, 2021 10:02 am

IL&FS has already addressed Rs 43,600 crore of debt as of May 2021 and indicated that Rs 50,000 crore of estimated recovery is likely to be addressed by September 2021.

Moratorium on Lakshmi Vilas Bank: What does it mean for depositors, financial sector?

November 26, 2020 2:31 pm

RBI has imposed a moratorium on Lakshmi Vilas Bank and drafted a scheme for a merger. What does this mean for depositors, and for the financial sector, which has witnessed a series of failures in recent years?

Infrastructure Leasing and Financial Services, Uday Kotak, economy, economy news, NCLT, NCLAT, indian express economy news

Uday Kotak gets 1-year extension on IL&FS board

September 24, 2020 11:10 am

Kotak, the non-executive chairman of IL&FS, was given a go-ahead for three months initially, which was followed up with a nine-month relaxation that ended on October 2019. He was then given a one-year extension till October 2020.

Directors unlikely to get immunity as ITNL arm undergoes insolvency in Spain

September 03, 2020 1:01 am

Under Spanish law if a company is unable to service its debt for two straight months, it should approach the court for voluntary insolvency.

BSR & Co did not follow standards of accouting: NFRA on IFIN’s FY18 audit

August 18, 2020 12:34 am

The NFRA also noted that the appointment of BSR & Co as auditors for IFIN was itself invalid under the Companies Act, as KPMG provided a number of services to IFIN that an auditing firm is not permitted to provide to clients under the Companies Act.