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MUMBAI/NEW DELHI: Credit rating agencies for years assigned high ratings to India's Infrastructure Leasing & Financial Services (IL&FS) and its group companies despite its deteriorating financial health, according to a special audit conducted by Grant Thornton India.
NEW DELHI (Reuters) - India has asked Ethiopia to investigate a report that employees of an Indian company, Infrastructure Leasing and Financial Services (IL&FS), have been taken hostage by staff in Ethiopia, a government source said on Saturday.
Kolkata: Srei Infrastructure Finance Ltd plans to stop financing Indian infrastructure projects after three decades in the business, as a slowing economy and crisis in the shadow bank sector dries up funding lines.
GANDHINAGAR, India (Reuters) - (This is one of a series of stories on the difficulties the Modi administration has faced in creating jobs.)
MUMBAI: With the future stability of the Indian financial system on the line, executives running a giant infrastructure lender gathered at the company’s glassy, modernist headquarters in Mumbai and hammered out an ambitious restructuring plan last Saturday to manage a US$12.6bil debt burden after a string of defaults.
MUMBAI: The Indian infrastructure finance and construction firm that has rocked the nation’s credit markets with rare defaults had some of its credit ratings cut as low as they can go, as more debt deadlines loom.
MUMBAI: Indian media tycoon Subhash Chandra scrambled over the weekend to stem a crisis that wiped $1.6 billion off his flagship Zee Entertainment Enterprises Ltd.’s market value on Friday and threatened to derail his plans to sell a stake in the company.
KPJ Healthcare Bhd has entered into a joint-venture agreement with UTM Holdings to develop and operate a private hospital on a piece of leasehold land in Kulaijaya, Johor. KPJ will hold 60% of the joint venture (JV) equity, while UTM Holdings will hold the remaining 40%.
MUMBAI: Just as India’s banks emerge from under a pile of bad loans to large energy, steel and other industrial companies, they are facing a new reckoning from the accelerating crisis in the country’s shadow banking sector.