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The curious case of IL&FS and why the government can’t wash its hands off the mess

Updated : September 24, 2018 02:49 PM IST

The resignations of Ramesh Bawa, CMD of IL&FS Financial Services, and Vibhav Kapoor, non-executive director, along with three other independent directors do not infuse confidence in the institution or its parent.
Given the dominant control of IL&FS by the government through entities that it controls, a default by the institution or its subsidiaries tantamounts to a default by the government.
Who is accountable for the IL&FS mess? That is a question that needs answering.
The curious case of IL&FS and why the government can’t wash its hands off the mess

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