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Posted on: March 5, 2019, 8:01 a.m.
Tasked with cleaning up of mammoth financial mess at embattled IL&FS, its government-appointed board has charged 14 former directors of group firm IL&FS Financial Services Ltd (IFIN) of facilitating money laundering, sanctioning loans in violation of rules and causing "huge financial stress and losses" to the company. In show-cause notices issued to the 14 former directors, the new management has charged them of having "sanctioned loans deceptively to external and group companies with sole objective to infringe RBI guidelines of ... Full investment news articleRelevent to this post: University of Nebraska Foundation,