Roads articles

IL&FS crisis puts credit rating firms on SFIO radar

New Delhi: The Serious Fraud Investigation Office (SFIO) is looking into methods used by credit rating agencies as part of its probe into a series of defaults by Infrastructure Leasing and Financial Services Ltd (IL&FS). “SFIO is looking into the issue from the specific angle of how comprehensive they (rating methods) are,” Injeti Srinivas, secretary,

IL&FS crisis puts credit rating firms on SFIO radar

New Delhi: The Serious Fraud Investigation Office (SFIO) is looking into methods used by credit rating agencies as part of its probe into a series of defaults by Infrastructure Leasing and Financial Services Ltd (IL&FS). “SFIO is looking into the issue from the specific angle of how comprehensive they (rating methods) are,” Injeti Srinivas, secretary,

Government weighs outright sale of crisis-hit IL&FS

New Delhi: India is examining options including an outright sale of Infrastructure Leasing and Financial Services Ltd (IL&FS), a person with knowledge of the matter said, as the government tries to stem defaults at the lender with $12.6 billion of debt. A plan to be presented to a bankruptcy court on Wednesday by the state-appointed

IL&FS board to moot sale of assets

New Delhi: The tentative turnaround scheme for Infrastructure Leasing & Financial Services Ltd (IL&FS) that its state-appointed board of directors will present to the Mumbai bench of the National Company Law Tribunal on Wednesday will focus on quick disposal of certain assets for which there are takers and leave projects that are servicing debt untouched.

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