Ousted VC of IL&FS suggests foreign agency probe into company's affairs: report
Updated : October 17, 2018 09:54 AM IST
The suggestion comes after the NCLT ruled in favour of the government, allowing it to supercede the existing board members of the crisis-hit IL&FS.
The appointment of an overseas agency from UK or Singapore, instead of a local one, will help prove that there was no wrongdoing or mismanagement in the company, Sankaran reasoned in his response to NCLT ruling, which was reviewed by the paper.
The crisis-hit company accumulated a debt of more than Rs 91,000 crore along with defaulting some of its payments.