Once cleared, these projects can be monetised
IL&FS is facing serious liquidity issues and it, along with its subsidiaries, has defaulted on various debt repayments
IL&FS will require more money to repay secured borrowers
Industry players said investors pulled out money fearing contagion risks from the IL&FS default
Meanwhile, IL&FS Trans-portation, a subsidiary of IL&FS, said that it has also defaulted to interest payments for three tranche of non-convertible debentures due on October 1
This will enable the reconstituted board to proceed smoothly and help the board to take important decisions: Ministry
IL&FS Engineering and IL&FS Transportation Networks are frozen 10% lower circuits at Rs 22.70 and Rs 27.25, respectively, while IL&FS Investment Managers down 5% at Rs 9.81 on the BSE.
A spate of money market defaults by IL&FS has put the spotlight on non-bank finance companies
None of the six nominee directors- who represent the five shareholders in IL&FS - are named as respondents in the government's appeal before the National Company Law Tribunal
Some of our non-banking finance companies are staring at a Northern Rock moment if they do not put their house in order
'What is the point in having ratings of double and triple-A if that doesn't give any comfort? You cannot depend on these ratings even for six months,' Pradhan
None of the six nominee directors- who represent the five shareholders in IL&FS - are named as respondents in the government's appeal before the National Company Law Tribunal
The rescue was critical for PM Modi, who can ill afford a financial crisis months before he faces voters at the next election
Officials say while the govt will take to task anyone guilty of bringing the company to this state, it will also ensure that there is no liquidity crisis
The risk panel committee provides guidance on strengthening risk management practices
Did men and women of redoubtable experience and public service, upholders of the country's steel frame and paragons of corporate governance, never smell a rat?
The IL&FS is grappling with arbitration claims worth around Rs 70 bn with the National Highways Authority of India, which are under various stages of resolution
Stocks of IL&FS Transportation Networks opened on a weak note and then lost further ground to trade at Rs 30.25
First reported default after new board appointed by government
Government took control of the crippled IL&FS group whose 358 subsidiaries owe more than Rs 910 billion banks and other lenders, and appointed a new six-member board under banker Uday Kotak