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Iphin
GooseberryLetter: Io (Ph) Forfeda Flash Card – Vicky Newton When Iphin appears in readings it highlights our sense of grief and or remorse for his previous situations have played out and suggests that this may be clouding our judgment in the here and now. Our ability to view things intellectually can be hindered by our emotions and there is a danger in allowing our heart to rule our head. The…
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लाभ में आई IFIN: IL&FS ग्रुप की कंपनी IFIN ने FY20 के लिए 188.7 करोड़ रुपए का शुद्ध लाभ दर्ज किया
लाभ में आई IFIN: IL&FS ग्रुप की कंपनी IFIN ने FY20 के लिए 188.7 करोड़ रुपए का शुद्ध लाभ दर्ज किया
Ads से है परेशान? बिना Ads खबरों के लिए इनस्टॉल करें दैनिक भास्कर ऐप नई दिल्ली23 मिनट पहले कॉपी लिंक IFIN का ऑपरेटिंग रेवेन्यू पिछले कारोबारी साल में 36% बढ़कर 374.27 करोड़ रुपए पर पहुंच गया, जो इससे एक साल पहले 275.14 करोड़ रुपए था कारोबारी साल 2018-19 में IFIN को 13,274.52 करोड़ रुपए का घाटा हुआ था कंपनी ने कई लोन की वसूली की है, जिससे 163.69 करोड़ रुपए का इंपेयरमेंट प्रॉविजन खुल गया है IL&FS…
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Crisis-hit IL&FS lays road map to cut 57% of Rs 99,000 crore debt Infrastructure Leasing & Financial Services (IL&FS) laid down a road map on Monday to resolve 57 per cent of the group’s nearly Rs 1 trillion debt pile.
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IL&FS mess: From tickets for Real Madrid match to watches and shirts, gifts doled out to rating agencies, reveals interim report
IL&FS mess: From tickets for Real Madrid match to watches and shirts, gifts doled out to rating agencies, reveals interim report
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New Delhi: From tickets for a Real Madrid football match and hefty discounts on a luxurious villa to a Fitbit watch and shirts, a probe into the high-profile IL&FS scam has found numerous cases of favours and gifts extended by the erstwhile top management to senior officials of rating agencies and their family members.
While the continuing…
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Government seeks ban on @deloitte , @kpmg affiliates for allegedly auditing lapses of IL&FS Technologies Ltd. group :: @lawyer2ca - 1. The government is seeking to ban Deloitte Haskins & Sells and KPMG affiliate BSR & Associates for 5 years, alleging lapses in their audits of a unit of IL&FS. 2. The Corporate affairs ministry said that the companies “miserably failed” to fulfill their duties as auditors for IL&FS Financial Services (IFIN). 3. The government took control of IL&FS in October after it defaulted on several debt obligations, saying it stepped in to insulate the financial system from contagion. The group has a debt of more than Rs. 91,000 crore ($13.1 billion). - #fraud #Deloitte #KPMG #ILFS #IFIN #ministry #rules #regulations #tax #money #finance #business #investment #startups #entrepreneur #entrepreneurlife #law #lawyers #Lawyer2CA #Lawyer2CAVentures #delhi #bombay #bangalore - https://www.ndtv.com/business/il-fs-crisis-government-seeks-ban-on-deloitte-kpmg-arm-for-alleged-auditing-lapses-2051569 https://www.instagram.com/p/BymhgaNF5Jz/?igshid=1rvzmy7ad9iye
IL&FS financial arm's GNPAs touch 90% in Dec against 5% in Mar 2018: Board
Company News
The Infrastructure Leasing & Financial Services (IL&FS) board on Wednesday presented a status report on the group’s financials and the asset monetisation plan, six months after the government-appointed panel took over the reins of the company. The board said the asset monetisation plan for the beleaguered infrastructure finance player was in good shape as far as the assets put up for sale were concerned, and that it expected the resolution process to accelerate.
The board also said the financial arm of the group had posted gross non-performing assets (GNPA) of 90 per cent in December 2018 as against 5.3 per cent in March 2018, and the group’s net worth had seen significant erosion. IL&FS Financial Services’ (IFIN’s) GNPA as a percentage of advances would be the highest by any financial institution involved in lending.
“I have heard of double-digit NPAs but 90 per cent GNPA is very unusual by any standards. That's the challenge that we have faced,” said Kotak Mahindra Bank MD & CEO Uday Kotak, who is also non-executive chairman of the IL&FS group.
The total external exposure of IFIN was estimated at Rs 10,656 crore at the end of March 2019, of which its exposure to group companies stood at Rs 6,849 crore. The board said it was exploring all options, including legal process and one-time settlement, to recover the dues.
The net worth of the group, which was around Rs 9,000 crore in March 2018, has reduced sharply. “It is reasonable to assume that there is significant erosion to net worth and in many many cases there could be a significant in negative value," said Kotak.
At consolidated level, the IL&FS group had an outstanding debt of Rs 99,354 crore at the end of September 2018. About half of this, or Rs 48,470 crore, was in just four holding companies -- ILFS, IFIN, IL&FS Energy Development Co, and IL&FS Transportation Networks (ITNL)...Read More