IL&FS Fin Services post Rs 189 cr profit in 2019-20 fiscal
Apart from default in payment obligations, IFIN's credit rating was downgraded to the lowest level in 2018-19.
Apart from default in payment obligations, IFIN's credit rating was downgraded to the lowest level in 2018-19.
The charge sheet clearly articulates that IL&FS kept functioning despite RBI's strictures and SFIO now maintains that the rot could have been prevented had the central bank acted with haste to cauterise the wound, knowing fully well the extent of the malaise.
Those charged by SFIO include former IL&FS Vice Chairman Hari Sankaran and former IFIN MD Ramesh Bawa, both of whom are under arrest.
