NHAI clears IL&FS claims of Rs 902 crore
The Khed-Sinnar Expressway (KSEL) is the third incomplete road project of IL&FS whose claim has been cleared by the highways authority.
Bankruptcy board set to tackle group insolvency
Bringing entities on the basis of inter-connectedness or common assets into the group resolut...
Securitisation market likely to cross Rs 2 lakh crore by end of FY2020: Icra
In the third quarter of FY20, the securitization volumes stood a...
IL&FS case: NCLAT to provide formula for distribution of proceeds among creditors
The tribunal have also asked some of the lenders to file revised framework proposed by the Ministry of Corporate Affairs within a week, stating their position in the resolution of IL&FS group, which has a cumulative debt of over Rs 90,000 crore.
Creditors raise objections, block resolution of 5 IL&FS road assets
An affidavit by the board said that “of the five ITNL sale SPVs, voting had commenced for four SPVs. On account of concerns raised by the CoCs of the five SPVs, voting process has been put in abeyance.”
RBI releases minutes of board meeting for first time
The channels of communication with outside stakeholders have opened up ever since Das took over as RBI guv.
NHAI settles NH-21 project with IL&FS for Rs 672 crore
The National Highways Authority of India (NHAI) has settled a road project with Infrastructure Leasing & Financial Services (IL&FS) at Rs 672 crore, one of the first as the debt-laden group moves to resolve stuck projects through conciliation.
PFC ceases to be among five largest creditors of IL&FS
IL&FS will seek directions from the NCLAT for removal of Power Finance Corporation (PFC) as one of the top five creditors, due to the transfer of wind power assets.
IL&FS plans equitable distribution of sale proceeds to creditors
Uday Kotak-led board has also proposed to release 55 group firms from moratorium
IL&FS board proposes distribution framework for group resolution
It has proposed to release 55 companies from the moratorium. Some of these are under IBC process.
Stock market update: 19 stocks hit 52-week lows on NSE
Benchmark index NSE Nifty was trading 68.30 points down at 12294.0, while the BSE Sensex was trading 223.19 points down at 41729.44.
Stock market update: 17 stocks hit 52-week lows on NSE
Benchmark index NSE Nifty was trading 6.55 points down at 12323.0, while the BSE Sensex was trading 45.64 points down at 41814.05.
IL&FS looks to sell stake in Gift City
Kotak referred to IL&FS as a “test case” on a group-wide resolution of stressed assets.
IL&FS 'test case' for group resolution: Uday Kotak
Addressing the 32nd AGM of the group, Kotak said the absence of requisite legal framework for group resolution under Insolvency and Bankruptcy Code (IBC) required the new board to propose the 'first-of-its-kind" resolution framework that balanced interest of stakeholders across classes and levels, while keeping broad principles of corporate finance in mind.
NCLAT reserves order over NCLT's jurisdiction to implead auditors in IFIN case
The two-member bench led by Chairman Justice S J Mukhopadhaya also sought a written submission from the Ministry of Corporate Affairs by Tuesday, to determine whether the NCLT has jurisdiction to initiate civil proceedings against any party.
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