IL&FS News

IL&FS gets creditors' nod for sale of education business

Schoolnet India Ltd (erstwhile IL&FS Education & Technology Service Ltd) would be sold to Career Point Publications Pvt Ltd (CPPPL).

ORIX acquires 51% stake in seven IL&FS assets

Power Finance Corporation, Bank of Baroda and India Infradebt are the external lenders to these seven wind energy assets.


IL&FS case: Supreme Court restrains govt from acting against auditor BSR

The financial affairs of the IL&FS group came under scrutiny last year after it defaulted on short-term and long-term debt obligations to the tune of Rs 91,000 crore.

Bombay HC stays NCLT proceedings against IL&FS auditors on ban

On June 8, the Ministry of Corporate Affairs (MCA) had filed a petition with the NCLT seeking to ban Deloitte and BSR for five years under Section 140 (5) of the Companies Act.

IL&FS case: Bombay HC to hear auditor’s plea on ban

The National Company Law Tribunal (NCLT) will start hearing arguments from September 5 based on merits for imposing the ban, which was initiated by the government.

IL&FS board seeks NCLT approval for sale of wind assets to Orix

Earlier this year, GAIL had offered Rs 4,785.7 crore for the IL&FS stake in seven companies under IL&FS Wind Energy — Lalpur Wind Energy, Etesian Urja, Khandke Wind Energy, Retadi Wind Power, Wind Urja India, Tadas Wind Energy and Kaze Energy.


‘IL&FS official routed funds to subsidiary, took commission’

In April this year, Bhatia was elevated to the post of CEO at ITNL by the new board of IL&FS headed by banker Uday Kotak. Bhatia was the Chief Financial Officer (CFO) at ITNL before the collapse of the IL&FS Group.

IL&FS crisis: ED files first chargesheet; attaches Rs 570 crore assets

The agency, in its probe and in the chargesheet, said the senior management of IL&FS indulged in acts of commissions and omissions leading to illegal personal gains to them at the expense of the company. 

‘Red’ IL&FS entities account for more than two-thirds of group’s overall debt

The progress report shows that entities classified as red and amber comprise over 87 per cent of the total outstanding debt of over Rs 89,000 crore.

For four weeks: NCLT stays own order to prosecute IL&FS auditors

The NCLT gave the audit firms time till July 28 to file an appeal, according to the order uploaded on tribunal’s web portal.