Homeinfrastructure News

Ousted IL&FS directors blame nominee directors for financial crisis, says report

Ousted IL&FS directors blame nominee directors for financial crisis, says report

Ousted IL&FS directors blame nominee directors for financial crisis, says report
Profile image

By CNBC-TV18 Oct 3, 2018 9:28:37 AM IST (Published)

The ousted independent directors of Infrastructure Leasing & Financial Services Ltd (IL&FS) said they were aware of the budding financial crisis for two to three years, Business Standard reported.

The ousted independent directors of Infrastructure Leasing & Financial Services Ltd (IL&FS) said they were aware of the budding financial crisis for two to three years, Business Standard reported.

Recommended Articles

View All

An unnamed ousted independent director told the newspaper that they had suggested solutions such as selling the company and its large assets but the nominee directors of the shareholders neither pushed forward the suggestions nor came up with alternative solutions.
The National Company Law Tribunal (NCLT) on Monday allowed the government to take control of debt-ridden Infrastructure Leasing and Financial Services (IL&FS) by dissolving the entire board.
 
Have you signed up for Primo, our daily newsletter? It has all the stories and data on the market, business, economy and tech that you need to know. 
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!