Infrastructure Leasing And Financial Services

The government has decided to extend the tenure of veteran banker Uday Kotak as the IL&FS Non-Executive Board Member and Chairman by six more months. Mr Kotak will continue on the Board of Infrastructure Leasing and Financial Services Limited for a further period up to April 2, 2022, a notification issued by the Finance Ministry stated on Tuesday.

A special Court has granted police three-day custody of Ravi Parthasarathy, former chairman of the bankrupt Infrastructure Leasing and Financial Services (IL&FS), who was arrested by the Economic Offences Wing.

The NBFC sector has been under pressure since Infrastructure Leasing and Financial Services (IL&FS) went burst in 2018. This created a liquidity crunch for the banking sector as it affected banks that lendto NBFCs.

IL&FS, a major infrastructure financing and construction company, collapsed late last year after a series of defaults that triggered fear of contagion in India's financial sector and forced the government to take control and overhaul its board.

MNS chief Raj Thackeray will appear before the Enforcement Directorate or ED in connection with a money laundering probe and has appealed to the party workers not to protest over the issue, a party spokesperson said on Tuesday.

Deloitte said it will review the order issued by the National Company Law Tribunal (NCLT) and decide on a course of action shortly.

A series of defaults at lender Infrastructure Leasing and Financial Service Ltd last year raised concerns about the country's shadow banking industry

IL&FS Transportation Networks is a subsidiary of debt-laden Infrastructure Leasing and Financial Services Ltd (IL&FS), which the government took control of in October, citing the need to protect the country's financial system and markets from a potential collapse.

West Bengal Chief Minister Mamata Banerjee on Monday wrote to Prime Minister Narendra Modi urging him to initiate a high-level probe into financial impropriety and possible misappropriation of savings of common people due to the debt crisis in Infrastructure Leasing & Financial Services (IL&FS) Ltd.

India has asked Ethiopian authorities to investigate a report that employees of an Indian company, Infrastructure Leasing and Financial Services (IL&FS), have been taken hostage by staff in Ethiopia, an Indian government source said on Saturday.

The foreign ministry is investigating claims by expatriates in Ethiopia who say they are being held hostage by local staff that haven't been paid after the shadow lender Infrastructure Leasing and Financial Services Ltd. began defaulting on $12.6 billion in debt.

IL&FS' board has decided to publicly solicit expressions of interest for its stakes in both IL&FS Securities Services, and ISSL Settlement & Transaction Services, which are both active in the financial services sector.

The official, who declined to be named, ruled out any budgetary support for IL&FS, an infrastructure financing and building company, which has 348 businesses and debts of Rs 91,000 crore ($12.39 billion).

The board appointed consultancy firm Alvarez and Marsal as restructuring advisers to the group, the company said.

CARE cut its rating on Gati's long-term bank facilities to 'BBB' from 'A-', and downgraded short-term bank facilities to 'A3+' from 'A2+', according to a regulatory filing. Investors are paying closer attention to rating downgrades after the government rescued shadow banking firm Infrastructure Leasing & Financial Services (IL&FS), whose rapid decl...

The government has decided to extend the tenure of veteran banker Uday Kotak as the IL&FS Non-Executive Board Member and Chairman by six more months. Mr Kotak will continue on the Board of Infrastructure Leasing and Financial Services Limited for a further period up to April 2, 2022, a notification issued by the Finance Ministry stated on Tuesday.

A special Court has granted police three-day custody of Ravi Parthasarathy, former chairman of the bankrupt Infrastructure Leasing and Financial Services (IL&FS), who was arrested by the Economic Offences Wing.

The NBFC sector has been under pressure since Infrastructure Leasing and Financial Services (IL&FS) went burst in 2018. This created a liquidity crunch for the banking sector as it affected banks that lendto NBFCs.

IL&FS, a major infrastructure financing and construction company, collapsed late last year after a series of defaults that triggered fear of contagion in India's financial sector and forced the government to take control and overhaul its board.

MNS chief Raj Thackeray will appear before the Enforcement Directorate or ED in connection with a money laundering probe and has appealed to the party workers not to protest over the issue, a party spokesperson said on Tuesday.

Deloitte said it will review the order issued by the National Company Law Tribunal (NCLT) and decide on a course of action shortly.

A series of defaults at lender Infrastructure Leasing and Financial Service Ltd last year raised concerns about the country's shadow banking industry

IL&FS Transportation Networks is a subsidiary of debt-laden Infrastructure Leasing and Financial Services Ltd (IL&FS), which the government took control of in October, citing the need to protect the country's financial system and markets from a potential collapse.

West Bengal Chief Minister Mamata Banerjee on Monday wrote to Prime Minister Narendra Modi urging him to initiate a high-level probe into financial impropriety and possible misappropriation of savings of common people due to the debt crisis in Infrastructure Leasing & Financial Services (IL&FS) Ltd.

India has asked Ethiopian authorities to investigate a report that employees of an Indian company, Infrastructure Leasing and Financial Services (IL&FS), have been taken hostage by staff in Ethiopia, an Indian government source said on Saturday.

The foreign ministry is investigating claims by expatriates in Ethiopia who say they are being held hostage by local staff that haven't been paid after the shadow lender Infrastructure Leasing and Financial Services Ltd. began defaulting on $12.6 billion in debt.

IL&FS' board has decided to publicly solicit expressions of interest for its stakes in both IL&FS Securities Services, and ISSL Settlement & Transaction Services, which are both active in the financial services sector.

The official, who declined to be named, ruled out any budgetary support for IL&FS, an infrastructure financing and building company, which has 348 businesses and debts of Rs 91,000 crore ($12.39 billion).

The board appointed consultancy firm Alvarez and Marsal as restructuring advisers to the group, the company said.

CARE cut its rating on Gati's long-term bank facilities to 'BBB' from 'A-', and downgraded short-term bank facilities to 'A3+' from 'A2+', according to a regulatory filing. Investors are paying closer attention to rating downgrades after the government rescued shadow banking firm Infrastructure Leasing & Financial Services (IL&FS), whose rapid decl...