Day Trading Stocks & Futures
- Thread starter TraderRavi
- Start date
- Tags banknifty bnf daytrading nifty future
IL&FS crises deepens, financial services arm defaults on commercial papers
The company said it will not be able to access commercial papers market for up to six months from the date of repayment of this obligation. The company did not quantify the default amount.
For the third time in a month, crippled infrastructure conglomerate IL&FS Financial Services on September 24 defaulted on interest payments on commercial papers.
The interest payment on the papers was due on September 24, the company informed the exchanges.
The company said it will not be able to access commercial papers market for up to six months from the date of repayment of this obligation. The company did not quantify the default amount.
"The commercial papers which were due on September 24, could not be serviced by the company," the company said in a BSE filing.
On September 21, its managing director and chief executive Ramesh C Bawa and some key board members had resigned amid crisis in the IL&FS group for alleged defaults in loan payments and corporate governance issues.
The infrastructure conglomerate has come under the scanner of multiple regulators, including Sebi, for alleged defaults related to financial disclosures and corporate governance.
Earlier this month, it came to light that IL&FS group defaulted on a short-term loan of Rs 1,000 crore from Sidbi, while a subsidiary has also defaulted Rs 500 crore dues to the development finance institution.
While IL&FS group has a consolidated debt of Rs 91,000 crore with IL&FS alone having nearly Rs 35,000 crore, IL&FS Financial Services Rs 17,000 crore, which sits as a standard asset for most of the lenders, according to a Nomura India report.
https://www.moneycontrol.com/news/b...rm-defaults-on-commercial-papers-2982351.html
The company said it will not be able to access commercial papers market for up to six months from the date of repayment of this obligation. The company did not quantify the default amount.
For the third time in a month, crippled infrastructure conglomerate IL&FS Financial Services on September 24 defaulted on interest payments on commercial papers.
The interest payment on the papers was due on September 24, the company informed the exchanges.
The company said it will not be able to access commercial papers market for up to six months from the date of repayment of this obligation. The company did not quantify the default amount.
"The commercial papers which were due on September 24, could not be serviced by the company," the company said in a BSE filing.
On September 21, its managing director and chief executive Ramesh C Bawa and some key board members had resigned amid crisis in the IL&FS group for alleged defaults in loan payments and corporate governance issues.
The infrastructure conglomerate has come under the scanner of multiple regulators, including Sebi, for alleged defaults related to financial disclosures and corporate governance.
Earlier this month, it came to light that IL&FS group defaulted on a short-term loan of Rs 1,000 crore from Sidbi, while a subsidiary has also defaulted Rs 500 crore dues to the development finance institution.
While IL&FS group has a consolidated debt of Rs 91,000 crore with IL&FS alone having nearly Rs 35,000 crore, IL&FS Financial Services Rs 17,000 crore, which sits as a standard asset for most of the lenders, according to a Nomura India report.
https://www.moneycontrol.com/news/b...rm-defaults-on-commercial-papers-2982351.html
So you are a bear in a bull's skin. Now i know
Jokes apart, glad to know you made money in a crashing market
300k back then was big money.
Jokes apart, glad to know you made money in a crashing market
300k back then was big money.
Nahin bhai, I am still a bull in bull skin.
That was only my luck that I made that much of money.
Big money, no it wasnt
As one member here commented
300K,
means 5000$ ONLY
Its nothing
(perhaps he was earning millions of $ every week/month)
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