NEW DELHI: With fresh revelations of fraud, the government-appointed Board of Infrastructure Leasing & Financial Services Ltd (IL&FS) has approached the Serious Fraud Investigation Office (SFIO) and Enforcement Directorate (ED) to initiate criminal proceedings against 14 former directors of IL&FS Financial Services Ltd (IFIN).
The action comes almost a week after the forensic audit report by accounting firm Grant Thornton LLP.
“The report by Grant Thornton LLP clearly establishes money laundering. The Board has already informed the Ministry of Corporate Affairs, SFIO and the ED to initiate criminal proceedings against the culprits, with an enclosed copy of the report,” a senior IL&FS official privy to the development told TNIE.
