IL&FS
IL&FS News
Former IL&FS CMD’s judicial custody extended till April 30
The high court’s order came on an application moved by Sankaran on Monday that under a provision of the Companies Act, his remand could not extend beyond 15 days.
Former IL&FS CEO Ramesh Bawa arrested by SFIO
The IL&FS Group with total liabilities of Rs 94,000 crore has come under the scanner of the Enforcement Directorate for alleged money laundering.
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GIFT City group CEO quits after IL&FS expresses inability to pay him
IL&FS had invested in the project in 2007 when the company parked Rs 32.5 crore for 50 per cent of the shares. Gujarat government had parked a similar amount in the project and owns the remaining 50 per cent shares.
‘IL&FS Financial Services gross NPA hit 90% by the end of December 2018’
Citing the challenges, Uday Kotak said the gross non-performing assets of IL&FS Financial Services has gone up to a staggering 90 per cent by the end of December 2018 compared to 5.3 per cent in March 2018.
Former CMD of IL&FS arrested by serious fraud probe office
The IL&FS Group with total liabilities of Rs 94,000 crore has also come under the scanner of the Enforcement Directorate (ED) for alleged money laundering.
Former IL&FS chairman Hari Sankaran arrested by SFIO, sent to custody
Hari Sankaran has been arrested on the grounds of abusing his powers in IL&FS through his fraudulent conduct and in granting loans to entities which were not creditworthy or have been declared Non-Performing Assets.
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No takers for job of independent director in IL&FS companies
As many as 77 positions are vacant and there are few takers. Most of these positions fell vacant after a slew of resignations by directors following the IL&FS debt default crisis in September 2018.
Assess investments in IL&FS, EPFO tells exempted firms
The EPFO’s own investment is nearly Rs 574 crore in IL&FS bonds and so far there has been no default, the official said adding that the retirement fund body may consider moving NCLT if there’s non-payment of interest.
Four IL&FS Transportation Network staffers held hostage in Ethiopia return
Since mid-2018, under instructions of ITNL, several of the Indian employees employed by IL&FS project companies had returned to India.
Between 2014-2018: HNIs, family & EPF trusts subscribed to NCDs and preference shares of IL&FS
IL&FS Group has a debt of about Rs 94,000 crore and has defaulted on repayments to its bondholders.
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