Ex-CEO of IL&FS arm helped Fitch Ratings’ official buy villa, says probe report

New Delhi: 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.