Financially troubled IL&FS Engg and Construction Company is witnessing early improvement in its road portfolio with a go ahead to start work on one of its road project which was earlier up for foreclosure

IL&FS thrived due to its bureaucratic cover, time to go after them.

BSR @ Associates, which has resigned as the auditors of IFIN said it has also filed replies to the petitions and applications filed by MCA with NCLT

Company had given collateral to IL&FS Securities Services in the form of MF units, later found to be stolen

ED on Wednesday arrested two former IL&FS executives - Arun Saha (former joint MD of IL&FS and Director IFIN) and K Ramchand (former MD, ITNL) in connection with Money laundering investigations

New probe based on the finding of SFIO is likely to target six erstwhile directors of IL&FS arm. The ED is likely to probe the transactions of IFIN for possible money laundering registering a second case in the central agency's investigations into the affair of IL&FS Group - ET Report

MCA is expeced to move court for freezing the bank accounts and properties of some of the past directors of IL&FS Group. The ministry would soon apply before the NCLT to widen the net in the IL&FS probe : ET reports

The Government detected at least 22 violations of auditing standards by Deloitte Haskins & Sells and KPMG Affiliate while investigating a fraud at a financial company leading it to seek a five year ban on the auditors, according to legal filings.

The SFIO probing the IL&FS case suspect the senior RBI officer may have had a role to play in the firm flouting rules, one of the key reasons for the collapse. It has suggested the RBI launch an internal investigation in the issue

Even as investigating agencies probe former top executives of IL&FS Group for alleged irregularities in the business affairs of the company, investigation reports reports on the group reveals an alleged nexus between one of them - Ramesh Bawa (former MD of IFIN) and the Ansals Group