E-PaperILFS News
Creditors approve sale of IL&FS’ education biz to Career Point
Career Point will now get 80% ownership in IL&FS Skills Development Corp., held by Schoolnet IndiaThe development represents another key milestone in the overall resolution for the IL&FS Group under the new board
1 min read12 Nov 2019IL&FS raises ₹806 crore through sale of wind assets to Orix
This is the first sale of assets that the group has been able to close, and the company said it will repay the lenders in fullWith this development, ORIX, which previously owned 49% in each of the seven SPVs, now has 100% ownership
1 min read17 Oct 2019Non-bank credit flow fell 19.4% in FY19, says central bank
RBI annual report: Credit flow from non-banks declined 19.4% in FY19; flows from banking sources rose 44% during the periodIn FY19, the total flow of financial resources to the commercial sector rose 4.2% y-o-y, the central bank said
2 min read29 Aug 2019NCLT allows IL&FS to sell 7 wind assets to Orix for ₹4,800 crore
Orix Corporation is an equity partner in the group and owns 49% stake in each of these seven operating wind power plantsThe seven wind power SPVs include Lalpur Wind Energy, Etesian Urja, Khandke Wind Energy, Retadi Wind Power, Wind Urja Indiae, Tadas Wind Energy and Kaze Energy
1 min read29 Aug 2019NCLAT asks IL&FS to hurry up with resolution process
The Supreme Court asked IL&FS to inform it of the steps taken regarding the 82 bankrupt subsidiaries in the groupAccording to reports, the corporate affairs ministry has proposed to the NCLT that four new auditing firms should restate the accounts of IL&FS and some of its subsidiaries
1 min read8 Aug 2019AMFI data shows mutual fund investors are scampering for safety
Both credit risk and medium-term bond funds have witnessed a combined withdrawal of over ₹6,200 crore in May 2019These funds have a larger proportion of ‘AA’ rated paper. This shows that investors are clearly shying away from taking higher risk
2 min read11 Jun 2019Japan’s Orix to buy out IL&FS group’s wind assets
Orix will exercise its right under the terms of an existing pact with IL&FSThe sale process to Orix is expected to be completed by June, subject to necessary approvals, according to the statement
1 min read19 May 2019RBI seeks modification of NCLAT order in IL&FS case
The order relates to the classification of debt of IL&FS group companies as non-performing assets (NPAs)The NCLAT had provided a moratorium on repayment of loans regarding the accounts of IL&FS and its over 300 group companies
1 min read19 Mar 2019NCLAT order on IL&FS rewards imprudence, ignorance at banks
NCLAT's IL&FS order encourages banks to extend and pretend, an exercise that landed them in the current toxic loan soup in the first placeNow, if RBI does nothing, banks that proactively provided against IL&FS loans in the previous quarter will feel short-changed
2 min read27 Feb 2019Opinion | An intruder undermines RBI
The National Company Law Appellate Tribunal (NCLAT) ordered that no lender can declare its exposure to embattled IL&FS Group as nonperforming without its permission — even if there is a default
2 min read26 Feb 2019Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared