Page 9 - Il&fs

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

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