JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward
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 the opaqueness of the group.
The IL&FS management is also talking to its second-largest shareholder, Orix Corporation of Japan, to infuse more funds into the company - in case any shareholder backs out during the rights issue.
With its new hybrid annuity model, the government is confident of getting more funds from India Inc.
The project holds strategic significance as Zojila Pass is situated at an altitude of 11,578 feet on the Srinagar-Kargil-Leh National Highway and remains closed during winters due to heavy snowfall.
The minister said that the priority for him will be "rolling out all stuck highway projects that include many of the IL&FS projects within 100 days".
Only NIIF has stayed the course as a viable infrastructure financing institution.
For the first 90 days of 2021, from January 5 onwards, one Union minister will visit one district in Tamil Nadu every week till the assembly election.
The 14.15 km tunnel will provide all-weather connectivity to Srinagar, Kargil and Leh.
The use of such robots can not only save lives but can also help road construction companies cut down on labour costs.
The IL&FS deal marks a sharp turnaround from last year when investor interest in public works plummeted.
To help the civil administration, air force under operation 'Hamsafar' pressed its load carrying fleet into service and ferried a total of 300 metric tons of food items from Jammu to Srinagar.
The tunnel would provide all-weather connectivity between Srinagar and Leh-Ladakh
The plane lost contact with air traffic control officials and landed in Mumbai after around four hours.
Unless companies press the pedal on implementation, further stock price gains might be limited, says Hamsini Karthik.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
'Eeit ka jawab patthar se denge.' 'We will do whatever it takes to ensure that such a loss does not happen again.'
Mumbai Monorail was to be built in two phases - Phase I of 8.93 km and Phase II of 11.20 km. The first phase ran operations for around three years before services were abruptly halted, owing to a fire incident last year. The second phase now stands completed, but is lying closed.
The economic slowdown has made it difficult for companies to record financial closure of a few awarded projects.
.jpg)
Some experts believe that building new cities may not be the answer to India's swelling urban population.
The 30-share Sensex ended down 35 points at 26,349 and the 50-share Nifty ended down 20 points at 7,864.
The assumption clearly was that project execution timelines would be adhered to and revenues would flow in as scheduled.
