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...
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...
In a recent addition to the Infrastructure Leasing and Financing Services (IL&FS) crisis, the Serious Fraud Investigation Office (SFIO) suspects that a senior official from the Reserve Bank of India (RBI) may have had some role to play in turning a blind eye to the non-compliance with various...
During his policy review last week, governor of the Reserve Bank of Indian (RBI), Shaktikanta Das denied having received any investigative report by the Serious Fraud Investigation Office (SFIO) on IL&FS (Infrastructure Leasing and Financial Services)—"We are not aware of the SFIO charge...
The Ministry of Corporate Affairs (MCA) has hinted at the indifference of RBI on the IL&FS's financial services arm (IFIN) for not meeting the basic criteria on CRAR (Capital-to-risky Asset ratio) and NOF (Net owned Funds) and the company's auditors' taking refuge in such lack of response...
