Edelweiss has emerged as the highest bidder for three road assets put on block by IL&FS, the company told bankers on Tuesday.The Committee of Creditors met on Tuesday to discuss the bids for three projects and issues relating to these projects
IL&FS Reality Fund has taken DB Reality to NCLT for default of around Rs 108 crore
Resolving a long pending tussle, the DMRC has announced that it will take over the operations and maintenance of the 11.6 km corridor from today.
Orix corporation of Japan has completed the acquisition of additional 51% stake in seven IL&FS assets, thereby now owning 100 per cent in these assets, held by IL&FS Wind Energy Limited.
FIRST SET OF COMPANIES SOLD BY THE NEW BOARD The IL&FS Group has completed the sale process of its 51% stake, held through IL&FS Wind Energy Limited (IWEL) in 7 operating wind power SPVs (with 874 MW of generation capacity) to ORIX Corporation of Japan (ORIX). With this development, ORIX, which previously owned 49% in each of the 7 SPVs now has 100% ownership.
IL&FS has waived a confidentiality clause that had prevented law firm Cyril Amarchand Mangaldas from sharing all details of its engagement with the previous management to facilitate a fairer and quicker probe which would fix responsibilities for what is emerging as India's biggest bankruptcy
The SFIO has asked India's top law firms and consultants to disclose all information they have on IL&FS. The Central agency under MCA has sought information for the past 10 years when the firm had advised and represented IL&FS for its subsidiaries and group companies. T
The government appointed management committee of the IL&FS group says it expects at least half of the Group debt be resolved, recovered or restructured by March 2020
Uday Kotak-led board to address half Rs 97K crore debt through asset monetisation, restructuring and floating Invits
"We should be able to recover, restructure, resolve over 50% and cross the 50% mark based on our best judgement " said Mr Kotak, Chairman, IL&FS