Global Infrastructure Partners (GIP), Brookfield Asset Management and Cube Highways are among those likely to bid for the second bundle of highways grouped under the toll, operate, transfer (ToT) model.
The National Company Law Appellate Tribunal on Tuesday agreed to hear IndusInd Bank’s plea seeking to recover an interest payment of Rs 25 crore from Infrastructure Leasing & Financial Services (IL&FS).
The (NCLT) has already accepted the MCA’s earlier plea filed last week, seeking immunity for the newly-appointed board of IL&FS from any potential legal action against them by numerous creditors and investors of the company
Addressing the media after a marathon meeting on Thursday, Uday Kotak, the new non-executive chairman of IL&FS, said the company has a total of 348 subsidiaries, associates and joint ventures, which is much more than what the
In a pre-emptive move to avoid litigation and insolvency proceedings, IL&FS Transportation Networks (ITNL) has sought to prevent creditors of 13 of its infrastructure projects from hauling them to the National Company Law Tri
In a notice to the Bombay Stock Exchange (BSE) on Saturday, ITNL said the move is being made in view of “the strategic priority of monetisation of the company’s project assets and generating liquidity”.
In a filing to the BSE late on Friday, IL&FS Financial Services said Ramesh C Bawa, managing director and chief executive officer of the “has tendered his resignation with effect from September 21, 2018”.
The board of directors of IL&FS will seek the reappointment of Arun Saha, joint MD and CEO of the group, for a further five years, till March 26, 2023, at the company’s forthcoming annual general meeting (AGM).
The sudden downgrade of blue-chip infrastructure financier IL&FS has caught the company’s bondholders on tenterhooks who are now looking forward to its board meeting scheduled for September 15, which will be attended by all
Mumbai-based infrastructure finance major IL&FS Group has identified about four-five non-core business verticals it is planning to dispose of as part of a larger sale of assets, to cut its mounting debt pile.