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Former IAS officer Malini Shankar says need to clean up IL&FS' finances

Mini

After National Company Law Tribunal (NCLT) approved centre's proposal to let a six- member team take over the IL&FS, former IAS officer Malini Shankar on Monday said there is a need to clean up the debt-trapped company’s finances.

Former IAS officer Malini Shankar says need to clean up IL&FS' finances
After National Company Law Tribunal (NCLT) approved centre's proposal to let a six- member team take over the IL&FS, former IAS officer Malini Shankar on Monday said there is a need to clean up the debt-trapped company’s finances.
Shankar said, "I am very happy that the government has bestowed this honour upon me."
"I have an outsider’s view of IL&FS. Obviously, I have not worked within it. But I am familiar with their projects that they have been taking up over the years," she added.
Edited excerpts:
Q: What did you see as the first priority of the new board?
A: I am very happy that the government has bestowed this honour upon me. It's very clear that the finances need to be looked into and cleaned up. It's after all public money. I will not be able to say anything at this point of time, because I will have to look at proceedings and collectively decide the road ahead.
Q: Are you familiar with the working of the institution?
A: I have an outsider’s view of it. Obviously, I have not worked within it. But I am familiar with their projects that they have been taking up over the years.
Q: When did the government reach out to you to express this intent of trying to get you on board for IL&FS?
A: That is something I would not prefer to say at the moment.
Q: Do you have any indication of what the next steps are likely to be now in terms of, when the new board is likely to meet, what is the mandate? What is the communication from the government to you?
A: Like you, I will have to wait for the communication from the government. I am hearing it from the press, but I will have to wait for the communication from the government.
Q: But, surely the government must have reached out to you before making the announcement?
A: There is something called formal communication also. I will consult the government. There will be a briefing right.

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