SLOW BURN

Aug ’ 18: Jul ’ 18: Jun ’ 18: Mar ’ 18: Nov ’ 17: Mar ’ 16: Oct ’ 15:

Business Today - - THE BIG STORY -

7. IL& FS AGM takes a call to raise ` 4,500 crore through rights is­sue 6. IL& FS board ap­proaches NCLT for re­lief as cred­i­tors threaten to drag the group to bank­ruptcy pro­ceed­ings

5. Ramesh C. Bawa, CEO of IL& FS Fi­nan­cial Ser­vices, ex­its

4. Sebi swings into ac­tion to look into IL& FS af­fairs

3. IL& FS an­nounces as­set mon­eti­sa­tion plan to sell 25 projects in next 18 months

2. RBI ini­ti­ates spe­cial au­dit

1. Par­ent IL& FS de­faults in re­pay­ment to SIDBI Oct ’ 18: Govt su­per­sedes board; puts Uday Ko­tak as chair­man Sept ’ 18: 8. Ap­points turn­around firm Al­varez and Marsal for sug­gest­ing re­struc­tur­ing scheme Group’s fi­nan­cial ser­vices arm de­faults in re­pay­ment of CPs

Group Chair­man Ravi Parthasarathy leaves abruptly cit­ing health rea­sons Trans­port sub­sidiary de­lays re­pay­ment of ICDs to SIDBI; rat­ing agen­cies down­grade Trans­port sub­sidiary aban­dons its $ 350 mil­lion bond of­fer­ing be­cause of tepid re­sponse Group plans to float in­fra in­vest­ment trust ( In­vIT) by bunch­ing road projects to raise ` 4,500 cr IL& FS in­ter­nally dis­cusses IPO to raise re­sources Ajay Piramal

shows in­ter­est in buy­ing out IL& FS; large share­hold­ers re­ject over pric­ing dif­fer­ences

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