Page 2 - Latest Updates on IL&FS Crisis
IL&FS exit a big boost for Gift City
The infrastructure is ready. Right regulations and tax regime are a must for its success as an international finance centre
Crisis-hit IL&FS plans to divest its 26% stake in OTPC, invites bidding
In terms of eligibility for bidding, corporate bodies should have a minimum net worth of Rs 150 crore as per the audited balance sheet as of March 31, 2019 or later
 "Crisis-hit IL&FS plans to divest its 26% stake in OTPC, invites bidding")
MFs' risk aversion towards NBFCs continues, exposure falls to 19% in March
The overall sectoral exposure to NBFCs, including housing finance companies, fell to 19% in March 2020
 "MFs' risk aversion towards NBFCs continues, exposure falls to 19% in March")
Substantial recovery likely against IL&FS Rs 94k cr debt: Injeti Srinivas
The NCLAT has approved the entire proposal of the government, which is in the "final stages of resolution"
 "Substantial recovery likely against IL&FS Rs 94k cr debt: Injeti Srinivas")
We need better supervision and not excessive regulations: Sanjeev Sanyal
In the paper, titled 'Risk vs Uncertainty: Supervision, Governance & Skin-in-the-Game', Sanyal has argued that a conventional top-down approach of regulation is the go-to solution for governments
 "We need better supervision and not excessive regulations: Sanjeev Sanyal")
IL&FS to seek lenders' approval for road asset sales through e-voting
The bid validity for five projects is set to expire on February 29
Govt seeks 270 days more to complete resolution for 105 IL&FS group firms
The Ministry of Corporate Affairs (MCA) has also requested the appellate tribunal to release 55 other entities from moratorium, so that they can discharge their debt obligations
IL&FS gets approval for claims towards Rs 2,700 crore stalled road projects
The NHAI Conciliation Committee recently approved a claim for approximately Rs 707 crore for the ILFS-Fagne Songadh Expressway Limited project
Economic Survey launches 'Health Score' to detect liquidity issues in NBFCs
A sudden payment default without any prior warning by Infrastructure Leasing and Financial Services (IL&FS) in August 2018 had triggered panic and caused liquidity crisis in the NBFC sector
 "Economic Survey launches 'Health Score' to detect liquidity issues in NBFCs")
IL&FS case: Sebi may inflict more wounds on raters, increase penalty
Sources said the settlement amount could be revised up to four times upwards
 "IL&FS case: Sebi may inflict more wounds on raters, increase penalty")
IFIN reports net loss of Rs 13,272 cr in FY19, net revenue down by 87.22%
96% of loans disbursed are non-performing
 "IFIN reports net loss of Rs 13,272 cr in FY19, net revenue down by 87.22%")
How India's economy came back down to earth in just a year's time
India may yet reclaim its mantle as the next big thing, albeit a toned-down and more durable version
 "How India's economy came back down to earth in just a year's time")
Liquidity crunch is mostly behind us, says Tata Sons' N Chandrasekran
Chandrasekran said the goods and services tax (GST) regime and the Insolvency and Bankruptcy Code (IBC) are historic decisions.
 "Liquidity crunch is mostly behind us, says Tata Sons' N Chandrasekran")
Stung by the cash crunch, India's top shadow banks find respite overseas
The industry has been reeling from a crisis triggered by the shock collapse of financier IL&FS Group last year, which has been followed by more failures
 "Stung by the cash crunch, India's top shadow banks find respite overseas")
Loans sanctioned by NBFC sector drops 34% in Q2, personal loans see uptick
Housing, commercial vehicle and term loans fall 23-85% in the September quarter; gold loan reports growth
 "Loans sanctioned by NBFC sector drops 34% in Q2, personal loans see uptick")
Bangalore Elevated Tollway awarded Rs 492 cr towards claim against NHAI
IL&FS Engineering and Construction Company Ltd, an IL&FS group company, has 24 per cent stake in BETPL
 "Bangalore Elevated Tollway awarded Rs 492 cr towards claim against NHAI")
After long wait, National Financial Reporting Authority gets own address
After camping in make-shift offices, it shifted to a upmarket central Delhi building just a few months ago that was previously the office of the Competition Commission of India
 "After long wait, National Financial Reporting Authority gets own address")
Best of BS Opinion: Maharashtra political drama, IL&FS collapse, and more
Here's a selection of opinion pieces from today's Business Standard
 "Best of BS Opinion: Maharashtra political drama, IL&FS collapse, and more")
IL&FS was a Lehman-like moment
Now that the consequences of the collapse of IL&FS are before us, the question worth asking is: Was the decision to let IL&FS fail a policy blunder as the Lehman decision was?
 "IL&FS was a Lehman-like moment")
PE/VC firms invested over $2 bn in NBFCs, despite IL&FS crisis of 2018
According to Venture Intelligence data, this year's total come from 33 deals; there were 37 in 2018
 "PE/VC firms invested over $2 bn in NBFCs, despite IL&FS crisis of 2018")
