{"id":262532,"date":"2019-03-06T04:52:49","date_gmt":"2019-03-06T04:52:49","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=262532"},"modified":"2019-03-06T04:52:49","modified_gmt":"2019-03-06T04:52:49","slug":"ilfs-board-charges-former-directors-of-money-laundering-criminal-intent","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ilfs-board-charges-former-directors-of-money-laundering-criminal-intent\/","title":{"rendered":"IL&amp;FS board charges former directors of money laundering, criminal intent"},"content":{"rendered":"<p>Tasked with cleaning up of mammoth financial mess at embattled IL&amp;FS, its government-appointed board has charged 14 former directors of group firm IL&amp;FS Financial Services Ltd (IFIN) of facilitating money laundering, sanctioning loans in violation of rules and causing &#8220;huge financial stress and losses&#8221; to the company.<\/p>\n<p>In show-cause notices issued to the 14 former directors, the new management has charged them of having &#8220;sanctioned loans deceptively to external and group companies with sole objective to infringe RBI guidelines of excessive exposure of IFIN to intra-group companies.&#8221;<\/p>\n<p>They have also been accused of extending loans for &#8220;criminal intent of falsification of repayment by a number of borrowers, including some entities associated with large corporate groups.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tasked with cleaning up of mammoth financial mess at embattled IL&amp;FS, its government-appointed board has charged 14 former directors of group firm IL&amp;FS Financial Services Ltd (IFIN) of facilitating money laundering, sanctioning loans in violation of rules and causing &#8220;huge financial stress and losses&#8221; to the company. In show-cause notices issued to the 14 former directors, the new management has charged them of having &#8220;sanctioned loans deceptively to external and group companies with sole objective to infringe RBI guidelines of excessive exposure of IFIN to intra-group companies.&#8221; They have also been accused of extending loans for &#8220;criminal intent of falsification [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,168],"tags":[],"class_list":["post-262532","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-roads-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/262532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=262532"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/262532\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=262532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=262532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=262532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}