The Supreme Court on Monday sought response from IL&FS Financial Services’ former vice-president and director Hari Shankaran on the pleas by the government and Infrastructure Leasing and Financial Services (IL&FS), seeking vacation of the apex court’s April order staying an NCLAT decision.
The NCLAT had ordered reopening of the books of accounts and recasting of the financial statements of the debt-ridden firm and its two other group entities for the past five years.
At present, IL&FS group companies, with a collective debt of over Rs 90,000 crore, are going through resolution process.
