Page 8 - Il&fs
Building ethical assets
Managers must learn to teach business ethics and values
 "Building ethical assets")
After DHFL crisis, centre to issue new rules to bring NBFCs under IBC
DHFL is one of the largest HFCs that ran into trouble last year soon after the collapse of IL&FS
 "After DHFL crisis, centre to issue new rules to bring NBFCs under IBC")
Experts raise alarm bells on talent flight amid crackdown on audit firms
On the other hand, officials at regulatory and enforcement agencies said the audit firms tend to put the blame on individuals after finding themselves in the dock for their alleged role in frauds
 "Experts raise alarm bells on talent flight amid crackdown on audit firms")
Mutual funds beat a retreat from lower-rated papers: Value Research data
Investors have continued to pull out their monies from credit risk funds
 "Mutual funds beat a retreat from lower-rated papers: Value Research data")
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
 "FRDI Bill should focus on speedy resolution of stressed financial firms")
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
 "The present economic crisis is worse than 2008 recession: Goldman Sachs")
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
 "UTI MF opposes 42% haircut for IL&FS entity, challenges its 'amber' status")
The bear will soon visit your garden
Independent directors must look for patterns in reports of disputes and business surprises
 "The bear will soon visit your garden")
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
 "Investors struggle to cut losses as shadow banking crisis deepens")
'Sitting ducks': $63 bn of zombie buildings sound alarm for Indian banks
As lenders stop new credit, builders are forced to offload properties
 "'Sitting ducks': $63 bn of zombie buildings sound alarm for Indian banks")
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
 "India's mini-Lehman moment: Bankruptcies double at real estate developers")
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
 "Top 10 biz headlines: Mahindra JV with Ford, falling car sales, and more")
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
 "Why do credit rating agencies keep missing big Indian company defaults?")
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.
 "IL&FS approaches NCLAT to recover Rs 145 crore from Gujarat discom")
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
 "RBI turns down Sebi plan for credit rating agencies' access to defaults")
IL&FS debacle, slump in real estate led to default, says Altico Capital
Management has sought signing of ICA by lenders to restructure liabilities
 "IL&FS debacle, slump in real estate led to default, says Altico Capital")
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
 "Lenders okay Rs 5,071-crore debt recast plan for 3 IL&FS group firms")
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
 "Three IL&FS entities turn green after signing terms sheet with lenders")