Page 25 - Il&fs

IL&FS approaches NCLT against bankruptcy case, draws revival plan

Here's what you must know about the IL&FS crisis

IL&FS seeks to raise Rs 300 billion in asset sales to cut debt: Report

IL&FS plans to sell 25 assets and has received investor interest for 14 of them

IL&FS infrastructure arm redesignates CFO Dilip Bhatia to assist asset sale

With the rejig, Bhatia will relinquish his responsibilities as the firm's CFO

IL&FS in India misses three debt payments due Friday

IL&FS's outstanding debentures and commercial paper accounted for 1 per cent and 2 per cent, respectively, of India's domestic corporate debt market as of March 31

IL&FS now has the most leveraged balance sheet among large-sized NBFCs

Debt-equity ratio jumped to 14.5x in FY18 against sector average of 5.6x

In a first, IL&FS group's Tamil Nadu thermal power unit taken to NCLT

Mumbai, 20 SeptemberBankruptcy proceedings have been instituted for the first time against an IL&FS group company, a Tamil Nadu-based thermal power unit. Lenders to the entity have taken it to the National Company Law Tribunal (NCLT), after it defaulted on loan payments.The parent company, IL&FS itself, is facing a massive cash crunch and will default on loan repayments by this month-end, unless its shareholders come forward with cash by way of equity or debt infusion. IL&FS at a consolidated level has debt of Rs 910 billion, making it one of the most indebted of corporate groups in the country.IL&FS Tamil Nadu Power Company Ltd operates a 1,200 Mw imported coal-based plant at Cuddalore. Around Rs 106 billion has been invested in the project, financed by Rs 60.8 bn of loans from public sector banks (PSBs) and Rs 45.6 bn in equity by IL&FS Energy Development, a group subsidiary. The project saw a cost overrun of about Rs 42 bn. The first phase was commissioned in ..

IL&FS mess shows why debt fund investors should watch out for credit risk

A large part of the blame for the episode, say experts, lies with the rating agencies, who should have started downgrading IL&FS and its affiliates earlier

IL&FS liquidity crisis: Lenders yet to take stock of situation

The gross debt of IL&FS Ltd stood at Rs 910 billion

Heat on rating agencies for failing to spot IL&FS' liquidity crisis

Icra, CARE and India Ratings - have been monitoring the activities of IL&FS, a holding entity of group, and its subsidiaries for long

IL&FS liquidity crisis credit negative for banks, debt market: Moody's

As of 31 March 2018, debts incurred by ILFS in the form of bank loans accounted for around 0.5 per cent - 0.7 per cent of overall banking system loans

IL&FS mess highlights failure of key stakeholders, corporate governance

A line of defence by IL&FS is that the mounting dues from various agencies were the prime reason for its liquidity woes

More bad news for IL&FS! Ratings cut to lowest level as debt woes worsen

Infrastructure Leasing & Financial Services Ltd., which helped fund India's longest tunnel, started missing deadlines on short-term debt instruments late last month

After shareholders reject Rs 30 bn bailout, IL&FS approaches govt: Reports

Financially strained unlisted holding company IL&FS has sought the Central government's support to avert a looming default crisis.

IL&FS' board, stakeholders to deal with debt crisis: FM Arun Jaitley

Finance Minister Arun Jaitley on Monday said that the IL&FS' board and its stakeholders will deal with the debt crisis facing the company.

The IL&FS fiasco represents India's domestic belt and road quicksand

IL&FS has extracted a heavy toll by playing on the nation's desperation for infrastructure

Ex-LIC chief S B Mathur to head IL&FS board, will replace Hemant Bhargava

Suspense over funds infusion continues

Funds worth Rs 160 bn getting stuck led to this mess: IL&FS tells staff

Crippled infrastructure development and finance company IL&FS has claimed that if funds worth Rs 16,000 crore stuck with concession authorities were released on time, it wouldn't have landed in the mess it is currently in. In a letter to its employees, a copy of which is with PTI, Infrastructure Leasing & Financial Services (IL&FS), which earlier this month had defaulted on a Rs 1,000-crore loan from Sidbi, has claimed that around Rs 16,000 crore of group liquidity is stuck in claims and termination payments. "Our monies were used to fund the cost and time overruns caused by concession authority delays in handing over right of way. It is our case that if concession authorities released our monies, which is around Rs 16,000 crore of IL&FS group liquidity and stuck in claims and termination payments, we would not be in the situation that we are in," IL&FS said in its letter. The management also claimed that sufficient clarity will emerge after the ...

IL&FS may be in more trouble with SIDBI; more dues unpaid: Report

SIDBI has asked IL&FS for a repayment plan within 10 days

IL&FS MF's exposure under scanner; firm says in good position to repay dues

Investments in group assets under spotlight; company assures it will be able to repay IDF investors

I'm sure LIC will take a prudent decision on IL&FS, says Irdai chairman

The solvency situation of IL&FS will have an impact on insurance companies