The ICRA says as the bank is in early stages, its profitability even after the proposed merger with Capital First Limited may remain weak in near to medium term.

The 726.6MW gas based power project, run by ONGC Tripura Power Company (OTPC), was formally started in 2014 as a joint venture of the ONGC, the IDFC, the IL&FS and the Tripura government.

The bank sold its stressed assets on a full cash basis in two separate transactions. Loans to a pool of 12 companies, including GVK Gautami, GMR Rajahmundry, Monnet Power and Coastal Projects totalling Rs 2,335 crore sold in August for Rs 621 crore.

What started out as a debt default crisis at IL&FS has snowballed into a liquiditysqueeze, triggering panicky outflows from mutual funds and risk aversion atlarge.

A Piramal Enterprises board meeting later this month is expected to discuss bringing on board SBI chairman Arundhati Bhattacharya.

From renowned banker like Uday Kotak to executives who've had diverse experience in their careers, here are the new board members of IL&FS.

What brought on the heavy selling in the stocks of non-banking finance companies (NBFCs)? Blame it on tightness in the money market and investor concerns over rising cost of borrowing for the companies amid continuing financial crisis at IL&FS.

The stock closed 17.04% or 23 points lower on the NSE.  On the BSE, the stock closed 16.03%  or 21 points lower at 113 level. The market capitalisation of the stock fell by Rs 5,727 crore to Rs 30,013 crore on the BSE.