Tue, Dec 18, 2018
IL&FS Group has been caught in massive cash crunch and hefty debt, and to overcome the situation they are offering their subsidiaries for sale. ISSL has turned out to be the first subsidiary offered by IL&FS for sale.
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Fri, Nov 02, 2018
There are certain entities which, in practice but not necessarily de jure, may have been considered part of the IL&FS Group for the purposes of funding. For instance, IL&FS Financial Services Ltd (IFIN) has an exposure in excess of Rs 900 crore to companies which are subsidiaries of associates or joint ventures of IL&FS such as HCPL and IL&FS Employee Welfare Trust.
Fri, Oct 26, 2018
The latest default is with regards to the interest payout on non-convertible debentures which was due on October 24. On October 20, payment of the principal amount of Rs 54.90 lakh was due for a Letter of Credit.
Tue, Oct 09, 2018
ITNL, one of the biggest road construction players in IL&FS group, has seen debt grow 1,767% in the last nine years. ITNL defaulted on bill discounting loan to several financial institutions, leaving hundreds of its vendors and scores of their associated small suppliers on the verge of bankruptcy.
Thu, Oct 04, 2018
With the new 52-week low, Central Bank of India has plunged by whopping 61% in a year.
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