Finance Working class employees left in the lurch at IL&FS resolution Updated : March 25, 2019 06:55 AM IST The petitions are from both secured and unsecured creditors, including a wide array of corporates and their PF Funds, employee funds, MNCs, postal funds, banks, PSUs and some power companies. The government, in its decision, on October 1, 2018, had ousted the erstwhile Board of IL&FS and replaced it with the new Board with a view to limit the crisis and help work a resolution. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.