MUMBAI: The Enforcement Directorate (ED) is investigating the IL&FS Employee Welfare Trust (EWT) over possible irregularities, extending its probe into alleged money laundering related to subsidiaries of Infrastructure Leasing & Financial Services (IL&FS). “As much as 13.64% shareholding of IL&FS is held by the employee trust, of which the principal beneficiaries are the senior management […]
Category: Roads
Ashoka Buildcon wins Rs 1,382 cr contract from NHAI in Karnataka
NEW DELHI: Ashoka BuildconNSE 1.32 % Thursday said it has won a Rs 1,382 crore highway contract in Karnataka from National Highways Authority of India (NHAI). The contract to build 56 km highway stretch is under hybrid annuity mode (HAM) under which the government provides 40 per cent of the project cost to start work, […]
Nitin Gadkari to unveil Rs 11,000 crore highway projects in UP
New Delhi: Union minister Nitin Gadkari will inaugurate and lay the foundation stone of Rs 11,595-crore highway projects in Uttar Pradesh on Wednesday, the government said. In addition, the minister will also lay the foundation stone of several projects under the Namami Gange programme, accompanied by Uttar Pradesh chief minister Yogi Adityanath. Gadkari will inaugurate […]
IL&FS to form creditors’ panel to assess dues
Mumbai: The board of Infrastructure Leasing & Financial Services will form committees of creditors at asset levels — the special purpose vehicles (SPVs) managing its projects — to assess their outstanding payments. It is also looking to appoint a claim adviser at the group level to coordinate the activity, people familiar with the matter said. […]
With direct resolution of holding companies ‘unlikely’, IL&FS Board may sell group firms
The government and the board of directors of debt-laden InfrastructureNSE 0.00 % Leasing and Financial Services (IL&FS) are looking at sale of individual group companies as they believe the direct resolution of vertical holding companies
Parliamentary panel on finance seeks inquiry commission into IL&FS crisis
The parliamentary standing committee on finance has asked the government to set up a high-level inquiry commission to identify the reasons behind the Infrastructure Leasing & Financial Services
UP is on an expressway-building spree. The likely cost: about Rs 1 lakh crore
Uttar Pradesh is in love with expressways, be it any political dispensation in the state. While Mayawati as chief minister championed the case of twin expressways between Noida and Agra, Akhilesh Yadav built the expressway from Agra till Lucknow. Yogi Adityanath is now set to outdo his predecessors.
65,000 km highways to be constructed by 2022: Nitin Gadkari
NEW DELHI: Road Transport Minister Nitin Gadkari said on Thursday that 65,000 km of highways will be constructed across the country at a cost of over Rs 5.35 lakh crore by 2022
IL&FS resolution plan categorises units into three, could repay Rs 7,000 crore or more
InfrastructureNSE 0.34 % Leasing & Financial ServicesNSE 0.54 % (IL&FS) proposed a resolution plan to the National Company Law Appellate Tribunal (NCLAT) on Monday that involves splitting group companies into three categories based on solvency and cash flow over the next 12 months
Govt submits resolution plan for IL&FS, suggests name of Justice D K Jain to supervise process
NEW DELHI: The government Monday submitted the debt resolution plan for crisis-hit IL&FS to the NCLAT and also suggested the name of retired Supreme Court judge Justice D K Jain to supervise
IL&FS companies to be grouped on payment ability
MUMBAI: The National Company Law Appellate Tribunal has asked the government and IL&FS to provide a list of group companies that have the ability to meet payment obligations in the next 12 months.
363 infrastructure projects show cost overrun of over Rs 3.42 lakh crore
As many as 363 infrastructureNSE -1.66 % projects, each worth Rs 150 crore or more, have shown cost overruns to the tune of over Rs 3.42 lakh crore owing to delays and other reasons, a report said.