Going by media reports, the National Company Law Appellate Tribunal (NCLAT) has asked the government and Infrastructure Leasing & Financial Services (IL&FS) to provide a list of group companies that have the ability to meet payment obligations over the next one year.
With an escrow agent of troubled infrastructure developer IL&FS Group citing a court order to stop servicing loans taken for a road project, lawyers and experts said investors could turn cautious on the infrastructure sector in the near term.
First, it was the IL&FS Group that ran out of money. Now that the bankrupt Indian infrastructure lender-operator has been sequestered from creditors, the country’s securitization industry is on borrowed time.
IL&FS Investment Managers has drawn interest from Edelweis , India Infoline and Altico Capital, an industry source close to the development said.
The government will soon approach the RBI seeking a special dispensation for deferment of provisioning requirements for bank loans extended to some IL&FS group firms amid ongoing efforts to monetise assets of the crisis-hit group, official sources said Tuesday.
Ratings agency ICRA has placed ratings of six mutual fund schemes from three fund houses — HDFC, UTI and Aditya Birla — under watch with negative implications due to their exposures to special purpose vehicles (SPVs)
The National Company Law Tribunal (NCLT) has allowed the former directors of the crippled IL&FS Group to withdraw Rs 2 lakh each per month from one of their bank accounts after intimating the the tribunal.
IL&FS Transportation Networks, a group company of the troubled IL&FS group, Monday said it has defaulted on dividend payment of Rs 7.12 crore due on redemption of cumulative non-convertible redeemable preference shares.
The National Company Law Tribunal (NCLT) Mumbai today allowed the government’s plea for re-opening and re-casting of financial accounts of Infrastructure Leasing & Financial Services (IL&FS),
The crisis-hit IL&FS Group has pulled out of Phase-I of the Ahmedabad Metro project. IL&FS Engineering, which is one of the subsidiaries of the company, had won a contract worth an estimated Rs 370-crore contract to construct