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IL&FS may ask former directors to pay up bonuses, says report

Updated : May 15, 2019 09:45 AM IST

All directors, including nominees and independent directors, of IL&FS, IL&FS Transportation Networks India Ltd. (ITNL) and IL&FS Financial Service Limited (IFIN) will be impacted by the decision.
The debt-laden company expects to recover about Rs 10 crore from each director and around  Rs 2 crore from each independent director per year.
Clawback, as the move is known, would be invoked under Section 199 of the Companies Act.
IL&FS may ask former directors to pay up bonuses, says report
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