Page 8 - Il&fs

FRDI Bill should focus on speedy resolution of stressed financial firms

Most legal experts believe had the FRDI Bill been enacted alongside the Insolvency and Bankruptcy Code, it would have helped the government deal with the crisis better

The present economic crisis is worse than 2008 recession: Goldman Sachs

Prachi Mishra of Goldman said the fall in consumption is responsible for a third of the overall dip in overall growth

UTI MF opposes 42% haircut for IL&FS entity, challenges its 'amber' status

Fund house says proposal completely ignores sponsor undertaking and differentiation between secured and unsecured lenders

The bear will soon visit your garden

Independent directors must look for patterns in reports of disputes and business surprises

IL&FS case: CVC intervenes in Sebi's probe of credit rating agencies

Further, it has asked Sebi to share its findings that explain late detection by rating firms

Investors struggle to cut losses as shadow banking crisis deepens

Trading in NBFC bonds slid to a five-month low of about Rs 75,520 in the secondary market in September, the lowest since April

'Sitting ducks': $63 bn of zombie buildings sound alarm for Indian banks

As lenders stop new credit, builders are forced to offload properties

India's mini-Lehman moment: Bankruptcies double at real estate developers

The growing number of insolvencies highlight Indian property developers' inability to complete apartments and meet their debt obligations amid the funding crisis

Top 10 biz headlines: Mahindra JV with Ford, falling car sales, and more

From Mahindra and Mahindra announcing a joint venture with Ford to car sales falling again, here are the top 10 business headlines on Wednesday

LIVE: A year after bad-loan crisis, state-appointed IL&FS board takes stock

IL&FS had made a series of defaults in September 2018, triggering widespread concern of a bad debt crisis lurking in India's shadow-banking sector.

Why do credit rating agencies keep missing big Indian company defaults?

India's major rating firms include Crisil, the Indian unit of S&P Global; ICRA, the local unit of Moody's Investors Service

IL&FS approaches NCLAT to recover Rs 145 crore from Gujarat discom

Debt-ridden firm IL&FS has approached the National Company Law Appellate Tribunal (NCLAT) seeking the release of around Rs 145 crore held by Gujarat Urja Vikas Nigam. A two-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya has issued notice to the Gujarat Urja Vikas Nigam over the IL&FS plea. NCLAT has directed to list the matter for next hearing on October 15. According to senior advocate Ramji Srinivasan appearing for IL&FS, the matter relates to payment of five IL&FS wind energy companies. IL&FS had approached Gujarat Energy Regulatory Commission regarding this but could not get relief there. IL&FS Group, which has a total debt of above Rs 90,000 crore, is going through debt resolution plan. The entire resolution process is based on the principles enunciated in the Insolvency and Bankruptcy Code and is supervised by Justice D K Jain.

RBI turns down Sebi plan for credit rating agencies' access to defaults

Market regulator has proposed letting rating agencies access the central bank's data base

IL&FS debacle, slump in real estate led to default, says Altico Capital

Management has sought signing of ICA by lenders to restructure liabilities

Lenders okay Rs 5,071-crore debt recast plan for 3 IL&FS group firms

NCLAT takes on record new board's plan, debt restructuring for nine more amber category firms soon

Three IL&FS entities turn green after signing terms sheet with lenders

This will help the IL&FS board in its stated objective of asset monetisation

Cash-strapped IL&FS Group puts nearly 494 acres of land parcel on block

IL&FS, through its group firms IL&FS Township and Urban Assets and IL&FS Engineering and Construction Company holds a total of 80 per cent equity stake in HCPL

Arbitrage funds are gaining favour as investors flock to safety: Experts

Arbitrage funds work by exploiting the price differential between the cash and the futures markets

IL&FS gets 14 bids worth Rs 13,000 cr for 10 domestic road assets

The bankrupt Infrastructure Leasing & Financial Services (IL&FS) Tuesday has received 14 binding financial bids worth around Rs 13,000 crore for 10 of its road assets in the country. The 14 bids were opened on September 9, and the board and the advisor are evaluating them, the company said in a statement Tuesday. These 10 road assets account for debt of over Rs 17,700 crore, which is nearly 19 percent of total group debt. IL&FS Group entities continue to hold rights to receive claims with gross value exceeding Rs 1,900 crore, filed with various concession authorities in respect of these assets, it said. These road assets include Jharkhand Infrastructure Implementation Company, Jharkhand Road Projects Implementation Company, Moradabad-Bareily Expressway, Chenani-Nashri Tunnelway, Hazaribagh-Ranchi Expressway and the Jorabat- Shillong Expressway. The others are the Baleshwar-Kharagppur Expressway, Pune-Sholapur Road Development Company, Road Infrastructure ...

IL&FS arm's Gurgaon metro contract stands terminated from 9 September

Rapid MetroRail Gurgaon Limited and Rapid MetroRail Gurgaon South Limited are the two SPVs running the Gurgaon Metro Rail Project since 2013 and 2017, respectively