Companies & Sectors

The National Dairy Development Board (NDDB) has admitted to employing its retired employees at its subsidiary NDDB Dairy Services (NDS) with the same benefits that they were receiving before retiring from the Board or its subsidiaries.   Ironically, NDS is a not-for-profit company,...
The future of the grounded Jet Airways just got a shade bleaker on Monday with the lenders, led by State Bank of India (SBI), deciding to initiate bankruptcy proceedings against the airline after all attempts to rope in a buyer failed.   As revival hopes faded, investors dumped the...
Prominent private and public provident funds like Infosys Ltd PF, Hewlett-Packard Global Ltd PF, The Times of India PF, the Postal Life Insurance Fund, the NPS Trust, and the Army Group Insurance Fund are exposed to non-convertible debentures (NCDs) of IL&FS Financial Services (IFIN), the...

On 11th June, the ministry of corporate affairs (MCA) moved the national company law tribunal (NCLT) with a 214-page petition to bar Deloitte Haskins & Sells (Deloitte), statutory auditors of IL&FS Financial Services (IFIN) and BSR Associates (a part of the KPMG network in India), for five...
Credit rating agencies played major villain in the IL&FS crisis as they adjudged positive and impressive ratings on a regular basis to commercial papers and non-convertible debentures (NCDs) of IL&FS Financial Services (IFIN) despite unhealthy financial condition of the company, revealed an...

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