IL&FS News

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.

IL&FS Transportation Networks defaults on NCD interest payment

On December 17 last, IL&FS had invited EoIs for 19 of its road projects, four of which are still under construction, seven annuity projects and eight toll road projects.

IL&FS looks for new law firm after conflict of interest complaint

The complaint alleged that CAM was legal adviser to the former board of IL&FS, which is facing criminal and legal action by government agencies, and continues to perform that role for the new board, too. 

Credit agencies bent over backwards for IL&FS: Forensic report

These revelations are at the heart of a scathing indictment of top agencies in a draft forensic report on alleged wrongdoing as IL&FS slipped into default.