IL&FS case reveals what India's resolution mechanism is lacking

The infra-major going belly up cracked open some major flaws in the system — the most evident being weak corporate governance and how layers of corporate structures could be formed adding to......

IL&FS to file bankruptcy for its offshore firms in UAE

A tribunal consented with the decision of the newly constituted board of the IL&FS and observed that the initiation of bankruptcy proceedings was the best option for the two firms. Debt-ridden......

IL&FS case: Sebi fines ICRA, CARE, India Ratings

In three separate but similarly-worded orders, Sebi said the default by IL&FS occurred due to "lethargic indifference and needless procrastination and laxity" of the rating agencies. Cracking the......

ED makes first arrests in IL&FS case

Joint MD of the company Arun K Saha and MD of transportation network K Ramchand were arrested late evening in Mumbai under the Prevention of Money Laundering Act. The Enforcement Directorate on......