The Serious Fraud Investigation Office (SFIO) has filed its first charge sheet against the top officials and directors of IL&FS, its auditors, Deloitte Haskins & Sells, BSR and Associates and C Sivasankaran in the IL&FS Financial Services (IFIN) fraud case. Here is the list of key players and the allegations they are facing. None of them is convicted by the court.
Ravi Parthasarathy
The former chairman of IL&FS is accused of fraud with intent to injure the interests of the company, its shareholders, and lenders resulting in wrongful loss to the company. According to the SFIO, Parthasarathy was heading the coterie controlling the day-to-day affairs of IFIN. In order to avoid the accounts turning into an NPA, he kept on evergreening the loans.
