Page 20 - Il&fs

IL&FS Engineering up 90% in 1 week after government takes control of group

IL&FS Investment Managers was up 4% at Rs 10.30, gaining 32% in past one week, while ITNL down 10% at Rs 30.30 today, too up 34% during the week.

When govt takes charge of IL&FS, everybody behaves differently: Ex-director

IL&FS' former director says the board tried various initiatives, but those didn't succeed

IL&FS mess: Centre seeks update on stalled highway projects from new board

The Centre wants to know whether IL&FS is keen on completing these projects, otherwise they would be tendered to other concessionaires as delays in execution may escalate their cost

IL&FS value to be preserved, says non-executive chairman Uday Kotak

The new board will have to provide the NCLT a road map for turning around the company by October 31, which, Kotak said, is challenging, given that the company's issues represent a "moving target"

IL&FS crisis: Here's what India should have learnt from Walter Bagehot

India's shadow banks need to securitize more of their loans

Rs 45 bn rights not enough, IL&FS needs Rs 300 bn in fresh equity: Report

The company will also have to take an impairment of at least Rs 150 billion before recovering a single rupee from its subsidiaries, says distressed-debt specialist firm REDD Intelligence

Letter to BS: IL&FS case has brought into focus effectiveness of boards

While the agencies involved in improving the legal framework for better accountability are constantly making changes to the law, it is time a radical move is made

Furniture in the boardroom

Former directors of IL&FS were too willing to do the CEO's bidding

Uday Kotak named IL&FS non-exec chairman; Vineet Nayyar is Vice chair & MD

The new IL&FS board was made aware that there are 348 entities under the group. This underscores the task at hand,' Uday Kotak said. It was also said that IL&FS and Satyam cases are chalk and cheese

IL&FS: India's ten year itch of setting up infrastructure companies

In their zeal to push the pace of infrastructure development, govts. would start afresh with a new institution leaving the old problems to fester

Surprised by govt's takeover of IL&FS? Here's the story behind the move

In a secret memo, the finance ministry said it was concerned that just Rs 28 billion of IL&FS securities owned by mutual funds could set off a chain reaction of redemptions by investors

Relief for Maruti's Bhargava: Sacked IL&FS directors can be on other boards

Directors who have been 'suspended' can seek legal remedy to get reinstated, Ministry of Corporate Affairs

Letter to BS: Time for govt to create a sound institutional model for IL&FS

This is a systemic and governance failure and also implies a lack of regulatory oversight

Did IL&FS window-dress its accounts? SFIO to probe group companies

Besides risk management, the SFIO is also looking at the criminality angle in IL&FS' projects that have been completed and those that are under way

New IL&FS board to meet on Thursday, discuss issues plaguing group

The board is likely to examine the balance sheet of the company, particularly its claim of Rs 1.15 trn worth of assets

Govt mulls one-time fund infusion into stalled road projects of IL&FS

The infrastructure construction and finance company is also grappling with arbitration claims worth around Rs 70 bn with the NHAI, which are under various stages of resolution

What next for IL&FS?

Appointing a new board is the easy first step, now the heavy lifting has to begin

Govt okay with rejigging of crisis-hit IL&FS' long-term loans from PSBs

With half of IL&FS assets being invisible, the government is willing to allow a restructuring of loans

IL&FS' new board to hold maiden meet on Thursday, formulate turnaround plan

One of the focus areas for the board will be to find ways to raise cash by selling assets

Governance failure

IL&FS directors erred in their fiduciary duties