Page 9 - Il&fs

IL&FS board files affidavit with NCLAT; 3 amber entities may become green

The total debt of three entities that may be reclassified as green is around Rs 5,071 crore - Rs 3,242 crore from secured lenders and Rs 1,829 crore from the unsecured ones

Year after collapse, IL&FS on road to recovery; a quarter of debt addressed

A quarter of the beleaguered group's debt has been taken care of

IL&FS receives 14 binding bids from multiple bidders for 10 road assets

Jharkhand Infrastructure Implementation Company is the only green asset that has received a binding bid

Top 10 biz headlines: FDI reforms, Synergy Group eyes 49% Jet stake & more

From the govt easing FDI norms for single-brand retail, digital media, and manufacturing to Synergy Group planning to pick up 49% stake in Jet Airways, here are the top business headlines for Thursday

NCLT lets IL&FS sell 7 wind power firms to Japan's Orix for Rs 4,800 cr

Last month, IL&FS had said it would completely exit the wind energy business

IFIN made new investments of Rs 300 crore in Chennai Super Kings: ED

ED is contemplating a special audit of the account in the backdrop of rating agencies downgrading various debt papers of IL&FS

Realtors seek cheaper loans and uniform GST norms to revive sector

Developers are hoping this week's announcement will bring some relief

Enforcement Directorate examines Edelweiss ARC investment in Kohinoor group

The IL&FS group has made loan and equity investment to the tune of Rs 1,000 crore in Kohinoor for development purposes

NCLAT declines interim relief to Deloitte, BSR Associates in IL&FS case

The National Company Law Appellate Tribunal (NCLAT) on Tuesday declined to give any interim relief to auditing firms Deloitte Haskins & Sells LLP and B S R Associates LLP with regard to a ban imposed on them in the IL&FS case. The NCLT Mumbai will continue its scheduled hearing in the case of their alleged role in the IL&FS fraud matter, a three-member bench headed by Chairperson Justice S J Mukhopadhaya said. The NCLAT, however, said that the NCLT will not pass any final order till its next hearing on September 20. Listing the matter for September 20, the NCLAT also issued a notice to the Ministry of Corporate Affairs to file its reply within two weeks. The NCLAT was hearing appeals filed by Deloitte and BSR against the order of the Mumbai bench of the National Company Law Tribunal (NCLT), which on August 9, rejected their pleas of challenging its jurisdiction to ban them from the business for five years for their omissions and commissions in the IL&FS Group scam. The

IL&FS board seeks NCLT nod to sell wind assets to Orix Corp for Rs 4,800 cr

NCLT directed the IL&FS counsel to file a written submission on Wednesday

IL&FS payment default case: ED summons Raj Thackeray, Manohar Joshi's son

The Enforcement Directorate (ED) has summoned MNS party chief Raj Thackeray in connection with its money laundering probe in the IL&FS alleged payment default case, officials said Monday. They said the Maharashtra Navnirman Sena chief has been asked to appear before the investigating officer of the case on August 22. They added that Unmesh Joshi, son of former state chief minister and Shiv Sena leader Manohar Joshi, has also been summoned in the same case. Joshi is supposed to appear on Monday or Tuesday, they said. The agency is probing Thackeray's involvement in the case in connection with the IL&FSgroup's loan equity investment in a company called Kohinoor CTNL. The company was promoted by Joshi. Thackeray and Joshi had jointly bid for some assets after creating a consortium but later the MNS supremo quit. The ED, it is understood, wants to look into the entire transaction and hence has summoned the two. The ED had last week filed a charge sheet in the case too.

Banks may take majority stake in DHFL, convert part of debt into equity

DHFL owes banks Rs 40,600 crore. It also has a liability of Rs 45,380 crore to pay the holders of debentures and bonds

IL&FS money laundering case: Enforcement Directorate files 1st chargesheet

The prosecution complaint was filed in a special court of the Prevention of Money Laundering Act, charging former senior management personnel of IL&FS along with Aircel founder C Sivasankaran

Banks debited Rs 758 crore from IL&FS accounts despite NCLAT order

MCA names SBI, HDFC Bank, PNB, ICICI Bank among others, says they violated appellate tribunal moratorium

IL&FS board submits progress report on group's asset monetisation process

Another eight business verticals have been identified where the group can do away with redundant roles

IL&FS may not have disclosed bad loans for years: RBI report

Reserve Bank of India's (RBI) report, dated March 22, 2019, found that non-performing assets on IL&FS's books were as high as 70% of its total loans and advances by March 31, 2018

Top 10 business headlines: Modi's economic plan, stimulus package & more

From SoftBank eyeing stake in Airtel's telecom biz and other assets to Anil Agarwal's expression of interest to revive Jet Airways, here are the top 10 business headlines for Monday

IL&FS proposes to NCLT sale of wind energy assets to Japan's ORIX

ORIX Corporation of Japan had expressed its intent to buy out the remaining 51 per cent stake held by IL&FS in those assets for Rs 4,800 crore

IL&FS proposes to NCLT sale of its wind energy biz to Japan's Orix

The proposal has been filed before the Tribunal after completing binding Share Purchase Agreement with ORIX and obtaining "in-principle" approval from all lenders for completing this transaction

NCLAT raps MCA, IL&FS board over delay in presenting resolution plan

Appellate tribunal to next hear matter on September 5, asks MCA, IL&FS board to file progress report by September 3