MCA may invoke Section 447 of Companies Act to slap penalty and suspend some agencies in IL&FS case

After the SFIO charge sheet suggested that the RBI should conduct an inquiry, the RBI has written to IL&FS Financial Services Board to take action on the supervisory concerns and appraise the progress every fortnight

Stakeholder assurance gave an impression that everything was on track in the company

Tribunal directs MCA to provide charge sheet to audit firms, gives them 10 day to respond. The Central government on Monday took the unexpected step of seeking ban on auditors Deloitte Haskins & Sells and BSR & Co for their alleged role in helping hide bad loans at the bankrupt IL&FS Financial Services

After IL&FS Financial Services, the SFIO has now started probing alleged irregularities in IL&FS Transportation Network

Board aims to recover around Rs 15 crore from the liquidation of these companies

The Board of IL&FS has extended the deadline for filing of claims from June 5 to June 20, 2019

The New Board of IL&FS, as part of the overall resolution process for the IL&FS Group, has extended the last day of filing of claims, under its claims management process, from earlier deadline of June 5, 2019 to a new date of June 20, 2019. This extension is pursuant to the order passed by the Hon’ble NCLAT on May 29, 2019, wherein the court had extended the period for lenders to file their claims by June 20th, 2019.

The government appointed board of IL&FS is likely to file contempt proceedings against nine large banks including Bank Of Baroda, HDFC Bank, Yes Bank, Punjab and Sind Bank, Punjab National bank and Indian bank - for unauthorised withdrawals to the extend of Rs 800 crore during the moratorium period

Acting on the SFIO request, lookout circulars have been issued against the six ex-directors of IFIN - Ravi Parthasarthy, Hari Sankaran, Ramesh Bawa, Arun Saha and K Ramchand - ET Reports