The government appointed board of IL&FS is likely to file contempt proceedings against nine large banks including Bank Of Baroda, HDFC Bank, Yes Bank, Punjab and Sind Bank, Punjab National bank and Indian bank - for unauthorised withdrawals to the extend of Rs 800 crore during the moratorium period
Acting on the SFIO request, lookout circulars have been issued against the six ex-directors of IFIN - Ravi Parthasarthy, Hari Sankaran, Ramesh Bawa, Arun Saha and K Ramchand - ET Reports
The first hearing of the IL&FS fraud case will begin hearing on Friday in the sessions court - FE reports
The Supreme court on Tuesday allowed the SFIO to reopen and recast the accounts of IL&FS and two of its key subsidiaries of five years starting FY13
Trouble is mounting for audit firms as the ED issued summons to senior executives of Deloitte Haskins and Sells in connection with the ongoing money laundering probe against IL&FS.
Agency's charge sheet suggests regulator should conduct internal inquiry and take appropriate action
SFIO, in its chargesheet has exposed deep nexus between the auditors and other business companies to defraud the company
Launching a massive crackdown on perpetrators of IL&FS scams the SFIO has charged the erstwhile top management members of the group's financial subsidiary IFIN for forming a coiterie
Sivasankaran, nine IFIN ex-directors and auditors accused of hiding info, falsifying accounts. SFIO also accuses auditors BSR & Co LLP and Deloitte Haskins &Sells LLP, along with others of concealing information and falsifying accounts. SFIO said loans were given to Siva Group without adequate collateral.
IL&FS is looking to sell its non-core real estate assets, including its headquarters, which could help the infrastructure group raise Rs 5000-6000 crore as it tries to reduce debt or improve liquidity