In the news
20 Dec 2019

IL&FS Group gets nod fo sale of Edu business

justice D K Jain (Retired) has given his nod for the the sale of IL&FS' education business to Career Point Publications Private Limited (CPPPL). In November, the committee of creditors of IL&FS had approved the sale of the education business, which would reduce its debt by ~600 crore.

Press release
19 Dec 2019

IL&FS GROUP RECEIVES APPROVAL FROM JUSTICE DK JAIN FOR SALE OF ITS EDUCATION BUSINESS

Justice (retd) DK Jain has granted approval for sale of IL&FS’s Education business - Schoolnet India Limited (erstwhile IL&FS Education & Technology Service Ltd.) - to Career Point Publications Pvt Limited (CPPPL). IL&FS Group has already received approval from Committee of Creditors (CoC) to sell its Education business to CPPPL and will now be approaching the National Company Law Tribunal (NCLT) for final approval to conclude the transaction. This transaction, on completion, would resolve nearly Rs 600 crore of IL&FS Group debt.

In the news
10 Dec 2019

Amid falling demand, IL&FS power in TN as outlier

IL&FS Tamil Nadu Power Company is likely to see a turnaround. In October, the PLF of the Cuddalore plant touched a new peak, even as overall thermal power PLF in the country stood at an all time low.

Press release
9 Dec 2019

IL&FS TAMIL NADU POWER COMPANY LIMITED (ITPCL) RECORDS ALL TIME HIGH PLANT LOAD FACTOR (PLF) IN 8MFY20

?ITPCL CUDDALORE POWER PLANT RECORDED ALL TIME HIGH MONTHLY PLF OF 82%, GENERATED 735 MILLION UNITS AND REPORTED RS 336 CRORE IN REVENUE IN OCTOBER 2019 ?POWER PLANT CONTINUED TO RECORD HIGH MONTHLY PLF OF 80%, GENERATING 690 MILLION UNITS AND REPORTED RS 315 CRORE IN REVENUE IN NOVEMBER 2019 ?COMPARATIVELY THE PLANT HAD GENERATED 360 MILLION UNITS OF POWER IN NOVEMBER 2018, WHICH HAS BEEN DOUBLED IN NOVEMBER 2019 ?DURING 8MFY20 THE COMPANY RECORDS PLF OF 65% WITH GENERATION OF 4,567 MILLION UNITS

In the news
5 Dec 2019

IL&FS reports Rs 23K crore loss in FY19

IL&FS has reported a Rs 22,527 crore loss in its audited financial results for FY19 as against a net profit of Rs 333 crore in the previous year. The main reason for the loss was a Rs 19,430 crore write down of loans and investments made by it

In the news
5 Dec 2019

IL&FS FY19 loss at Rs 22,527 crore

Firm has net liabilities of Rs 16,935.1 crore, ability to raise funds impaired, says auditors. External borrowings of IL&FS were Rs 94,216 crore . Total debt addressed till date is Rs 36,400 crore

Press release
4 Dec 2019

IL&FS reports Rs 22,527 crore loss in its audited standalone financial results for FY19

The Board of Directors of IL&FS today approved the standalone audited financial results for the year ended March 31, 2019. IL&FS has reported a Net Loss of Rs 22,527 crore during the FY19, as against a Net Profit of Rs 333 crore reported in the previous year. The Board adopted prudent provisioning on loans/impairment of investments, and took a conservative view on fair market value and recovery estimates.

In the news
29 Nov 2019

IL&FS firm to get 118 crore in claim share

IL&FS Group company will get a Rs 118 crore as part of the claim awarded by the arbitration tribunal in a road development project

Press release
28 Nov 2019

BETPL GETS RS 492 CRORE ARBITRATION AWARD

Bangalore Elevated Tollway Private Ltd (BETPL) has been awarded an amount of Rs 492 crore towards Claim filed by the company against National Highways Authority of India (NHAI). IL&FS Engineering and Construction Company Limited, an IL&FS group company, has 24% stake in BETPL and is entitled to approx. Rs 118 crore from the total claim awarded by the tribunal.

In the news
26 Nov 2019

IL&FS case: NCLT turns heat on CEOs of Axis, Stanchart

The NCLT on Monday issued notices to the CEOs of Axis Bank and Standard Chartered Bank asking them to personally appear in the contempt proceedings against them for violating the tribunal's order, failing which non-bailable warrants would be issued against them.

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