IL&FS Financial Services

IL&FS Financial Services News

IL&FS hosted top executive of credit agency, got high ratings

Sources confirmed that Brickwork Ratings — an agency promoted by Canara Bank — allegedly gave favourable ratings to debt instruments of IL&FS group companies as its founder director D. Ravishankar allegedly received IL&FS Group’s hospitality in Spain along with his family.

Mystery loss of post-dated cheques: one more Ansal, IL&FS link

PenBrook is a joint venture of Mumbai-based real estate company Peninsula Land and Canada-based investment firm Brookfield. Sources said IL&FS Trust Company Ltd, (now called Vistra ITCL after it was acquired by Vistra in 2016), was the trustee company that kept these cheques.

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IL&FS crisis: Fraud office probes role of 4 credit rating agencies

Officials of these four agencies — Care Ratings Ltd, ICRA Ltd, India Ratings and Research Pvt Ltd and Brickwork Ratings India Pvt Ltd — have been summoned and questioned by the SFIO in the last one month on their role in rating the debt papers of IFIN between 2014 and 2018.

MCA files contempt plea against former IFIN CEO

The government alleged that Bawa is in contempt of an NCLT order dated December 3, which effectively put a freeze on all movable and immovable assets of Bawa and eight other former senior officials of the IL&FS group.

Now, IL&FS group defaults on ECB as well

Both the repayments were due on January 1, IFIN informed the Bombay Stock Exchange (BSE) on Wednesday.

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