The Enforcement Directorate charge sheet against IL&FS and the cabal which ran it gives the full scope and extent of the malfeasance and all pervasive rot.   Pertinently, it refers to the closed user group individually and by name and provides details on their conduct. The conclusion...
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The fourth and fifth progress reports on the resolution of Infrastructure Leasing & Financial Services (IL&FS) mess, submitted by the government-appointed IL&FS board to the National Company Law Appellate Tribunal (NCLAT) on 14th August, contain the Reserve Bank of India’s (RBI’s)...
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Almost everything about the 5th progress report submitted by the new board of Infrastructure Leasing & Financial Services (IL&FS) raises more questions than it answers. For starters, there is not much progress that the report documents. The crucial information that has made news is all in the...
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As the liquidity crunch in the non-banking finance company (NBFC) sector, which came to light with the IL&FS crisis, continues to drag the economy down, fresh revelations of blatant misgovernance by the erstwhile IL&FS mangement have been revealed by the RBI's investigation in the...
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The fifth status report, filed by the government-appointed board of Infrastructure Leasing& Financial Services (IL&FS) today, includes a rather disappointing report from Grant Thornton (GT) which completely misses the core issues with regard to what happened between Allied Financial...
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