Investigation into the IL&FS fraud has found that a top executive allegedly helped a senior official of Fitch Ratings purchase a duplex villa at a discount when a circuitous transaction with a defaulter borrower was underway in 2012-13.
In a statement on Wednesday, a Fitch Group spokesperson said it is probing the matter.
“Fitch was first made aware of these historical allegations on Monday (June 10, 2019) via the media. We are investigating but have no further information at this time,” the spokesperson said.
The investigation by the government’s white-collar crime probe agency SFIO has already unearthed connivance of auditors and independent directors with the then top management of IFIN (IL&FS Financial Services Ltd) in defrauding the company.
