IL&FS News

Over 30 bidders line up for IL&FS road projects

According to IL&FS, any binding transaction for the sale of assets, as well as the resulting resolution plan, will be subject to requisite approvals (including the NCLT) before the transactions are concluded.

PMO to Secretary Garg: We red-flagged IL&FS, probe directors’ role

According to sources, Garg asked his office to convene a meeting with the chairpersons of SBI, LIC and Central Bank soon after. While LIC owns 25.34 per cent in IL&FS, Central Bank of India and SBI hold 7.67 per cent and 6.42 per cent, respectively.


IL&FS group companies climb up to 10% on divestment initiative to raise funds

IL&FS group, which sits on a debt pile of about Rs 90,000 crore, said it will sell equity stakes in its road assets to raise funds.

Ethiopian police take 3 IL&FS officials into custody over unpaid wages issue

The workers in Ethiopia have allegedly not been given salaries for the month of October and November by the ITNL's subsidiary.

Two IL&FS employees released in Ethiopia, five still hostage

Earlier, India had asked Ethiopian authorities to investigate and help the seven Indian IL&FS employees who say they are being held by local staff due to non-payment of salaries, a government official said on Saturday.

For two arms, IL&FS receives over a dozen potential buyers

Crisis-ridden Infrastructure Leasing & Financial Services (IL&FS) on Monday said it received more than a dozen expressions of interest for its stakes in subsidiaries IL&FS Securities Services and ISSL Settlement & Transaction Services.


IL&FS misses Rs 57.29-crore repayments

Prior to this, IL&FS on Monday said it defaulted on principal and interest of over Rs 307 crore with respect to deposits from MUDRA (Micro Units Development & Refinance Agency) due on November 17.

IL&FS initiates steps for asset monetisation

The announcement means that an agreement struck in June by IL&FS’ erstwhile board to sell ISSL to IndusInd Bank is nullified, and the process of disposing of the subsidiary will start afresh.

NCLAT to hear IndusInd Bank plea against IL&FS

IndusInd Bank, which has an exposure of over Rs 3,000 crore, said it would have to classify the company’s account as a non-performing asset, if the interest part is not paid.

IL&FS board warns about Rs 53,000 crore bank exposure

On October 1, 2018, the government had moved the NCLT to supersede the board of IL&FS, which had defaulted on payments of over Rs 3,000 crore over a two-month time period.