Page 22 - Il&fs

Govt issues lookout notices for four directors of debt-laden IL&FS

In its petition filed with NCLT, the govt said these directors -- Ravi Parthasarathy, Hari Sankaran, Ramesh Bawa and K Ramchand -- were likely to flee the country overnight

IL&FS: Third time's the charm as govt succeeds in taking over private firm

The Ministry of Corporate Affairs seems to have taken past lessons to heart while building a water-tight case in the IL&FS issue

SFIO begins probe into irregularities at debt-laden IL&FS in Mumbai

The fraud office may also question rating agencies for not being more vigilant and accountable

Govt takes control of IL&FS; new board may choose Uday Kotak as chairman

NCLT said the new board must hold its meeting by October 8 and come out with a roadmap before the next hearing on October 31

Arun Jaitley uses K V Thomas' letter to counter Rahul Gandhi over IL&FS

The government may consider supporting IL&FS in the following areas - such as LIC, SBI to support IL&FS to provide equity and debt of Rs 80 billion

'Stakeholder issue' to NCLT action: How IL&FS saga unfolded over a weekend

There is an emergent need to immediately stop further financial defaults and also take measures to resolve defaulted dues to the claimants

Financial market turmoil

The IL&FS crisis has been badly managed. There seems to have been a systemic breakdown of accountability and governance

Time for swift action

Govt right in appointing a new board for IL&FS

IL&FS crisis: India's 'too big to fail' moment?

That reference to the US-led subprime crisis of 2008 may sound excessive until you realise that sentiment across the NBFC sector is tied to effectively quarantining IL&FS

Govt seizes control of debt-laden IL&FS; new board to meet before Oct 8

The dramatic move underscores the government's concern about IL&FS' defaults spreading to other lenders in the world's fastest-growing major economy

Govt may move to seize control of IL&FS management, supercede current board

Rescuing IL&FS group is vital for authorities to stem the risk of default spreading to other lenders in the world's fastest-growing major economy

Govt to move NCLT to remove IL&FS management following serial defaults

IL&FS has Rs 910 billion of debt and is unable to repay loans in the last one month

IL&FS to get $2.1 bn lifeline, Alvarez & Marsal to come up with revamp plan

IL&FS outlines restructuring proposal

Crisis-hit IL&FS to raise Rs 150 bn, hike borrowing limit to Rs 350 bn

The shareholders approved the company's proposal to raise up to Rs 150 billion by issuing secured non-convertible debentures through private placement

Lessons from IL&FS saga

Don't invest in companies that have complex balance sheets, despite government backing

IL&FS secures lifeline as shareholders approve fundraising via debt, equity

IL&FS has appointed Alvarez & Marsal to devise a restructuring plan that will be implemented upon approval by the board and stakeholders

No decision on IL&FS liquidity infusion yet; board plans restructuring

Board appoints Alvarez & Marsal to prepare recast plan for the group

Is IL&FS crisis 'Lehman Brothers moment of Modi government'? asks Congress

The Congress Friday attacked the Centre over the alleged "financial bungling" in debt-laden Infrastructure Leasing & Financial Services (IL&FS) and wondered if this was the "Lehman Brothers moment" of the Modi government. Taking on the government over reports to bail out IL&FS, Congress leader Gourav Vallabh said it is a privately held entity saddled with a long-term debt of over Rs 91,000 crore, and claimed its debt had increased by a whopping Rs 42,420 crore in just four years of the current dispensation. "The Modi government's economic mismanagement has left the IL&FS into a precarious financial situation, whereby it does not have the required cash to even sustain them and pay their employees and other dues. Is this the Lehman Brothers moment of the Modi government," he said. It is reflected by the fact that in the 2017-18 fiscal, IL&FS's current liability mounted to Rs 37,089 crore as against its current assets of Rs 31,259 crore, Vallabh said. This means that .

Centre pressuring LIC, SBI to bailout debt-ridden IL&FS: Sanjay Nirupam

The Congress in Mumbai has accused the Centre of pressuring Life Insurance Corporation (LIC) and State Bank of India (SBI) to bail out debt-ridden Infrastructure Leasing & Financial Services (IL&FS). LIC is the single largest owner in IL&FS with 25.34 per cent stake, while SBI holds 6.42 per cent in the infra major backed by the government. The IL&FS group is facing serious liquidity crisis and has defaulted on interest payment on various debt repayments since August 27. It has over Rs 91,000 crore in debt at the consolidated level. Addressing a press conference Friday, Mumbai Congress president Sanjay Nirupam alleged that "bankruptcy" at the infrastructure lending giant is a result of "poor" corporate governance at the company under the BJP-led government. The Centre has been pressurising the state-owned LIC and SBI to bail out the debt-ridden company with money that belongs to the common people of the country, he said. The former MP demanded a probe into

LIC, Orix, SBI to subscribe to Rs 45 billion IL&FS rights issue

The announcement came at the annual general meeting (AGM) of the company that has been defaulting on debt obligations