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As per the resolution plan, the newly set up IL&FS board had committed to repay Rs 61,000 crore in debt to its lenders. The company's total debt load weighed at Rs 99,000 crore at the end October 2018 when it collapsed because of a deepening a debt crisis
An anonymous whistleblower, who claims to be part of the “senior management team at Deloitte, Haskins and Sells LLP (Deloitte)” and has been “privy to several internal irregularities in providing professional services to the IL&FS (Infrastructure Leasing & Financial Services) group” has written to us outlining how the audit firm benefited by helping the failed group fudge its accounts year after year
‘With this transfer, secured lenders of this asset will get full recovery of their dues under the Invit structure while the group lenders will be issued Invit units as settlements for their loans,’ IL&FS said
ED visited premises of BSR & Associates and Deloitte in relation to inquiry pertaining to IFIN
The Print | Siddharth Mehta, former director of IL&FS says Fintech is Growing Present-day clients' views of finance have changed due to fintech…