In Short : IL&FS (Infrastructure Leasing & Financial Services) has made a payment of Rs 2,150 crore to creditors of its Tamil Nadu power arm. This development represents progress in resolving financial issues within the IL&FS group. By meeting these financial obligations, IL&FS is taking steps toward stabilizing its financial situation, contributing to increased confidence […]
IL&FS addresses nearly Rs 57K cr debt; achieves over 93% of aggregate resolution estimated at Rs 61 – EQ Mag
New Delhi : In its latest filing with NCLAT, the new IL&FS Board has said the Group has addressed approximately Rs 56,943 crore debt in its ongoing resolution efforts till September 30, up from Rs 55,000 crore debt updated in March this year The Group retained its overall resolution estimate at Rs 61,000 crore, representing […]
Punjab & Sind Bank declares IL&FS Tamil Nadu Power as fraud account; outstanding dues at Rs 148 cr – EQ Mag Pro
Public sector Punjab & Sind Bank (PSB) on Tuesday said it has declared bad asset IL&FS Tamil Nadu Power Company, with dues of over Rs 148 crore, as a fraud account and reported it to the Reserve Bank. As per the bank’s policy on determination and disclosures on material events, PSB said it has declared […]
IL&FS Floats EOI For Selling 100% Stake in Wind Farm Project
RREL owns a 6.5 MW wind farm project with 26 wind turbines having a capacity of 250 KW each at Ramagiri, district Anantapur, Andhra Pradesh. Infrastructure Leasing and Financial Services (IL&FS) on Tuesday invited expressions of interest (EOI) from eligible investors for its 100 per cent stake in Ramagiri Renewable Energy Ltd (RREL) and purchase […]
PTC board approves acquisition of consulting biz of IL&FS Energy Development Co
The LoI was issued after following due process prescribed under the resolution framework approved by NCLT for IL&FS Group entities, it added. PTC India said its board on Thursday approved the acquisition of the energy consulting business of IL&FS Energy Development Company. However, it did not disclose the value of the deal. “PTC India Limited’s […]
IL&FS completes sale of IL&FS Wind Power Services amid lockdown
IWSPL is engaged in providing supervisory and management support services to seven companies that own and operate wind power generating assets. Mumbai: IL&FS has completed the sale of IL&FS Wind Power Services (IWSPL), a wholly owned subsidiary of IL&FS Energy Development Company Limited (IEDCL), to ORIX Corporation, Japan. IWSPL is engaged in providing supervisory and […]
IL&FS proposes to NCLT sale of wind energy assets to ORIX of Japan
The proposal has been filed before the Tribunal after completing binding Share Purchase Agreement with ORIX Corporation and obtaining “in-principle” approval from all lenders for completing this transaction, subject to NCLT approval. Mumbai: Embattled IL&FS group has proposed to the National Company Law Tribunal (NCLT) the sale of its wind energy business to Japan’s Orix […]
IL&FS puts Rs 2,880 acre land parcels in Kutch for sale
In an attempt to its monetise assets, the bankrupt IL&FS group has put its 2,880-acres of non-contiguous land banks spread across seven villages in the Kutch region of Gujarat for sale. The company has invited expressions of interest from interested parties for selling the land parcels owned by three subsidiaries of IL&FS Group in the […]
Link Legal, K Law acts IDFC Alt buy of 40MW solar plant from IL&FS
“IDFC Alternatives, the private equity arm of IDFC Ltd, has bought a 40 megawatt (MW) solar power project in Madhya Pradesh operated by IL&FS Energy, two people aware of the matter said. Vector Green Energy, a company formed by IDFC Alternatives’ India Infrastructure Fund II to house its renewable energy investments, made the acquisition,” reported Mint. […]