GMR Infrastructure Ltd has posted a loss of Rs. 561 crore for the third quarter ended December 31, against a loss of Rs. 578 crore for the corresponding quarter of the previous financial year, on a consolidated basis. The diversified infrastructure company posted gross revenues of Rs. 1,958 crore ( Rs. 2,072 crore). Nine-month result […]
IL&FS Transportation (ITNL) has told its expatriate employees in Kashmir that salaries due will be paid as soon as the financial constraints eases up. It has told them to proceed to their respective countries and to provide details of their flights home. The communication from Srinagar Sonamarg Tunnelway Ltd came after BusinessLine published a story […]
The uncertainty as to who will reopen and recast of financial statements of beleaguered IL&FS and two of its subsidiaries — IFIN and ITNL — is now finally over. At the behest of the government, the CA Institute’s Accounting Research Foundation (ICAI-ARF) — a not for profit — will now take up the task of […]
Exercise to classify 100 other subsidiaries based on their stress, ability to pay on: govt The National Company Law Appellate Tribunal (NCLAT) on Monday directed 22 domestic subsidiaries of debt-ridden infrastructure major IL&FS to service their operational and financial debt obligations.
The National Company Law Appellate Tribunal (NCLAT) on Monday directed 22 domestic subsidiaries of debt-ridden infrastructure major IL&FS to service their operational and financial debt obligations. It has also lifted the debt moratorium on 133 foreign group entities to enable them to continue their resolution process, which would be supervised by the retired Supreme Court […]
Runjhun Gogoi of Guwahati is not happy with the BJP government at the Centre. As a salesperson, he needs to travel all over Assam, and the condition of the two major highways connecting Guwahati with either bank of the Brahmaputra — NH-37 and NH-52 — makes his journey painful.
Union Road Transport Minister Nitin Gadkari on Wednesday launched three major highway projects entailing an investment of Rs 2,345 crore in Odisha, saying it will go a long way in ensuring speedy development in the state.
Road developer IRB Infrastructure Developers has posted a net profit of Rs. 219 crore for the third quarter ended December 31, 2018 — which is up by 6 per cent from Rs. 207 crore in the corresponding quarter of FY18. The company’s total income stood at Rs. 1,835 crore ( Rs. 1,342 crore) registering a […]
Sri Lanka, which last year handed over a strategic port to a Chinese firm for a 99-year lease as a debt swap, will soon sign a USD 1 billion consessional loan agreement with Beijing to fund a major highway project linking Colombo to the hill resort of Kandy.
IL&FS and its subsidiaries have defaulted on many debt instrumentsdue to insufficient funds
The infrastructure, both social and physical, was named as the first dimension of Vision 2030 presented by Finance Minister Piyush Goyal while announcing the interim Union Budget 2019 on Friday.
Finance Minister Piyush Goyal on Friday said the construction of rural roads trebled under the Pradhan Mantri Gram Sadak Yojana and 2.5 crore rural households were electrified. He also said the government has provided 10 per cent reservation for economically weaker sections, which will create 2 lakh seats in educational institutions alone, Goyal said while […]