Search

News

IL&FS board says debt of Rs 55,000 cr will be resolved by March 2022
The board of the ILFS said that by March 2022, debt of Rs 55,000 crore would be resolved by the end of the year, and that the debt would be resolving through asset monetisation, restructuring and insolvency proceeding initiatives. The board of the IL&FS said that by March 2022, debt of Rs 55,000 crore would be resolved by the end of the year, and that the debt would be resolved through asset monetisation, restructuring and insolvency proceeding initiatives. It said in a brief snapshot of progress ...
Updated: 02/13/2022
Shares fall 19% after all three independent directors resign
... receive a share of around 125 Crore as part of the total resolution amount from one of its stressed loan accounts in the thermal segment, namely the 2 x 600 MW coal power plant in Cuddalore District in Tamil Nadu . The instant project was implemented by IL&FS Tamil Nadu Power Company Ltd. ITPCL PFS has sanctioned a total loan of Rs 200 crores under a consortium arrangement with ITPCL for the instant project. PFS is a non-banking finance company, promoted by PTC India Limited. PFS was granted the status ...
Updated: 01/20/2022
Srei Group companies facing bankruptcy proceedings
... Ltd, but it stopped being a subsidiary with effect from Mach 31, 2019. The NBFC sector was facing a lot of problems because of the severe liquidity crises when these loan facilities were sanctioned. The debacle of infrastructure financing institution IL&FS happened exactly during that time.
Updated: 01/11/2022
IL&FS completes sale of 26 per cent stake in Tripura Power Company to GAIL
New Delhi India January 4, ANI Debt-laden IL&FS said on Tuesday it had completed the sale of its 26 per cent stake in ONGCGTPC to Gas Authority of India Limited GaIL at an aggregate valuation of £1,227 crore New Delhi India January 4, ANI Debt-laden IL&FS said on Tuesday it had completed the ...
Updated: 01/04/2022
Shaktikanta Das extended three-year term as RBI Governor
... announcement was made in October 2021 or until further orders are made. The first three years of the Governor were nothing short of action-packed. Under him, the central bank supported growth aggressively, brought stability to the financial system after the IL&FS debacle, created a record foreign exchange reserve and managed pandemic-related challenges. One of the most closely followed developments would be the introduction of the digital currency of the RBI in the next three years. In a recent reply in the ...
Updated: 12/10/2021
Stocks likely to open higher today as Sensex loses 106 points
... company through open market transactions, raising the shareholding to 8 per cent from 5.95 per cent earlier in the day. The Ujjivan Small Finance Bank has appointed Ittira Davis as its managing director and chief executive officer for three years. The IL&FS Transportation Networks: The company engaged in the construction of roads and highways has inked a share purchase agreement with Axis Trustee Services for the sale of equity shares held in Moradabad Bareilly Expressway for initial consideration of ...
Updated: 12/07/2021
RCL board replaced by RBI over defaults
... while its market value is struggling at Rs 481 crore. A non-promoter group has a substantial stake with public shareholders holding a majority of 97.8 per cent of the equity in the company. The company has been experiencing losses year after year. The IL&FS debacle on account of asset-liability mismatches impacted the NBFC sector severely. The economy's slowdown has resulted in higher debt in the non-banking space. In 2020-21, the company's consolidated revenues stood at Rs 19,308 crore, with a net loss ...
Updated: 11/29/2021
IL&FS completes sale of 71.84% stake in FZC IPTF
The debt-laden Infrastructure Leasing and Financial Services IL&FS Federation has completed its sale of its 71.84 per cent stake in ILF Prime Terminals FZC IPFT to VTTI Terminal I BV. The debt-laden Infrastructure Leasing and Financial Services IL&FS Group has completed its sale of its 71.84 per cent stake in IL&FS ...
Updated: 11/24/2021
Sort by relevance | Sorted by date