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Page 2 - Il&fs

IL&FS completes interim distribution payout of Rs 1,273-cr for RMGSL

IL&FS has completed Interim Distribution pay-out for Rapid MetroRail Gurgaon South Limited (RMGSL), an IL&FS Group company.

IL&FS completes interim distribution payout of Rs 1,273-cr for RMGSL
Updated On : 09 Jan 2023 | 6:12 PM IST

Siva Shelters & Construction repays IL&FS debt worth Rs 80 crore

IFIN, a subsidiary of IL&FS, the bankrupt infrastructure financing and construction company, had disbursed Rs 50 crore as loan to SSCL

Siva Shelters & Construction repays IL&FS debt worth Rs 80 crore
Updated On : 02 Jan 2023 | 11:34 PM IST

IL&FS resolves Rs 56,943 cr debt as of Sept, addresses 93% of target

Infra lending firm's affidavit says it has reduced the number of entities under it from 302 to 101

IL&FS resolves Rs 56,943 cr debt as of Sept, addresses 93% of target
Updated On : 13 Dec 2022 | 11:34 PM IST

Ministry of Corporate Affairs nominates two directors on board of IL&FS

The Ministry of Corporate Affairs (MCA) has nominated two directors -- G Mahalingam and Deepak Mohanty -- on the board of IL&FS. The appointment of these two directors has been approved by both the MCA and National Company Law Tribunal. When contacted, IL&FS confirmed their induction on the board effective October 15, 2022. Both Mahalingam and Mohanty are former executive directors in the Reserve Bank of India. With this induction, the existing board of IL&FS now comprises 6 members with C S Rajan as non-executive chairman.

Ministry of Corporate Affairs nominates two directors on board of IL&FS
Updated On : 18 Oct 2022 | 4:52 PM IST

Govt reshuffles IL&FS board; Rajan becomes non-executive chairman

Nand Kishore, who was serving as an executive director, has been made the Managing Director, according to the company.

Govt reshuffles IL&FS board; Rajan becomes non-executive chairman
Updated On : 27 Sep 2022 | 5:23 PM IST

Sebi tweaks rules for sharp rating actions, non-cooperating issuers

Sebi comes out with circular with changes, also tweaks policy to deal with non-cooperating issuers

Sebi tweaks rules for sharp rating actions, non-cooperating issuers
Updated On : 26 Aug 2022 | 10:53 PM IST

IL&FS sells 2 firms in energy business for Rs 77.5 cr to reduce debt

IEDCL sold 27.75 per cent of its stake in Urjankur Nidhi Trust, where Maharashtra Energy Development Agency has a 50 per cent stake and Shree Datta Shetkari Sakhar Karkhana Ltd holds 22.25 per cent.

IL&FS sells 2 firms in energy business for Rs 77.5 cr to reduce debt
Updated On : 28 Jul 2022 | 4:09 PM IST

India Inc's missing whistle-blowers

Domestic corporate scandals of recent vintage, such as Global Trust, Satyam, IL&FS or YES Bank, to name a few, have all been the result of implosions rather than employee revelations

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Updated On : 14 Jul 2022 | 12:13 AM IST

IL&FS approves Siva Shelters's proposal to restructure loan to subsidiary

Siva Shelters offers to pay 20% of settlement amount immediately on signing of agreement

IL&FS approves Siva Shelters's proposal to restructure loan to subsidiary
Updated On : 05 Jul 2022 | 1:31 AM IST

India the place to be in now, says HSBC India CEO Hitendra Dave

'We are in growth, customer acquisition, and balance-sheet expansion mode'

India the place to be in now, says HSBC India CEO Hitendra Dave
Updated On : 14 Jun 2022 | 6:02 AM IST

After a lull, NBFCs looking to step up funding for real estate sector

The strong demand in real estate -- residential, commercial, and logistics -- is giving confidence to the likes of JM Finance, Piramal, LIC Housing, and Indiabulls Housing Finance

After a lull, NBFCs looking to step up funding for real estate sector
Updated On : 07 Jun 2022 | 6:05 AM IST

NCLAT directs new board of IL&FS to pay lenders on a pro-rata basis

The interim distribution will be for Rs 16,361 crore -- Rs 11,296 crore in cash and Rs 5,065 crore in InvIT units

NCLAT directs new board of IL&FS to pay lenders on a pro-rata basis
Updated On : 03 Jun 2022 | 12:42 AM IST

Ex-IL&FS chairman Ravi Parthasarathy dies from prolonged illness: Report

Parthasarathy was suffering from cancer and had been hospitalised in Mumbai since last November

Ex-IL&FS chairman Ravi Parthasarathy dies from prolonged illness: Report
Updated On : 27 Apr 2022 | 5:57 PM IST

The slowdown in 2019-20 was neither anomalous, nor inexplicable

It is important to remember that growth had been slowing for five consecutive quarters before 2019-20

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Updated On : 19 Apr 2022 | 9:58 AM IST

Course correction

IL&FS resolution has lessons

Course correction
Updated On : 31 Mar 2022 | 12:25 AM IST

Lenders approve IL&FS' debt recast proposal for Chenani Nashri Tunnelway

The lenders have approved IL&FS Group's proposal to restructure the Rs 5,500 crore debt of its subsidiary Chenani Nashri Tunnelway (CNTL), which offers almost full repayment to them. The move comes after the company has revalued itself at Rs 5,257 crore now after the deal with Cube Highways of Singapore failed last year, due to regulatory delays, for a consideration of Rs 3,900 crore. The three-day voting opened on March 21 and saw the lenders favouring debt recast as it offers them 99 per cent of their money while unsecured lenders will get back 90 per cent. The new proposal values the company at Rs 5,257 crore and will address Rs 4,910 crore of the IL&FS Group debt. An IL&FS spokesperson confirmed the development, saying we have got the requisite approvals from the lenders to restructure the debt of CNTL. The proposal entails CNTL converting itself into a green entity, with secured and unsecured lenders getting over 99 per cent and 90 per cent of the principal amount, ...

Lenders approve IL&FS' debt recast proposal for Chenani Nashri Tunnelway
Updated On : 27 Mar 2022 | 11:54 PM IST

IFIN recovers Rs 2,300 cr from third party borrowers, external investments

IFIN had placed 62 non-performing asset (NPA) accounts worth Rs 4,297 crore on sale, which was to be done through the 'Swiss Challenge' route

IFIN recovers Rs 2,300 cr from third party borrowers, external investments
Updated On : 19 Feb 2022 | 12:52 PM IST

IL&FS group to resolve debt of Rs 55,000 crore by March 2022

IL&FS group would resolve debt of Rs 55,000 crore by March 2022, the board of the crisis-hit company has stated in its affidavit filed before the NCLAT

IL&FS group to resolve debt of Rs 55,000 crore by March 2022
Updated On : 14 Feb 2022 | 1:45 AM IST

IL&FS to distribute Rs 20,000 cr proceeds to creditors by March end

The decision of interim distribution was taken because the group is expected to have a considerable amount of distributable assets, both in cash and InvITs, by March

IL&FS to distribute Rs 20,000 cr proceeds to creditors by March end
Updated On : 09 Feb 2022 | 12:05 AM IST

IL&FS resolves Rs 324-cr debt by selling stake in Warora Chandrapur Highway

Until recently, the board of debt-laden IL&FS had resolved Rs 52,000 crore worth of the debt of the group

IL&FS resolves Rs 324-cr debt by selling stake in Warora Chandrapur Highway
Updated On : 05 Feb 2022 | 12:41 AM IST