IL&FS bad assets lose cover

The National Company Law Appellate Tribunal (NCLAT) on Thursday said banks can declare as non-performing assets (NPAs) the accounts of IL&FS and its group companies that have defaulted on their payments. An NCLAT bench headed by chairman Justice S.J. Mukhopadhaya lifted the embargo on the lenders to declare the accounts of the debt-ridden IL&FS and […]

IL&FS bad assets lose cover

The National Company Law Appellate Tribunal (NCLAT) on Thursday said banks can declare as non-performing assets (NPAs) the accounts of IL&FS and its group companies that have defaulted on their payments. An NCLAT bench headed by chairman Justice S.J. Mukhopadhaya lifted the embargo on the lenders to declare the accounts of the debt-ridden IL&FS and […]

Hari Sankaran, former IL&FS chairman, arrested

Hari Sankaran, former chairman and managing director of crisis-hit Infrastructure Leasing and Financial Services (IL&FS), has been arrested for alleged fraud, abuse of power and causing wrongful loss to the troubled infrastructure lender. “The Serious Fraud Investigation Office on Monday arrested Hari Sankaran in connection with the ongoing investigations into the affairs of IL&FS and […]

Viability study for flyover ramps

A study is being conducted to find out whether it is feasible to build an entry and an exit ramp of the Garden Reach flyover, which has remained underutilised since its inauguration a year ago. The Calcutta Metropolitan Development Authority (CMDA), which is the custodian of the flyover, had asked engineering consultancy firm RITES about […]

Bridge FIR names BMC

Police have lodged an FIR, with the provision to add names later, blaming the Brihanmumbai Municipal Corporation for Thursday’s collapse of the Himalaya foot overbridge near the Chhatrapati Shivaji Maharaj Terminus that has claimed six lives and injured 30. The civic body, responsible for maintaining the bridge, announced its own probe but demolished the collapsed […]