{"id":277103,"date":"2019-06-03T04:45:29","date_gmt":"2019-06-03T04:45:29","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=277103"},"modified":"2019-06-03T05:04:52","modified_gmt":"2019-06-03T05:04:52","slug":"probe-nails-ilfs-management-who-ran-business-as-personal-fiefdom","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/probe-nails-ilfs-management-who-ran-business-as-personal-fiefdom\/","title":{"rendered":"Probe nails IL&amp;FS management &#8216;who ran business as personal fiefdom&#8217;"},"content":{"rendered":"<p>Launching a massive crackdown on perpetrators of the IL&amp;FS scam, the Serious Fraud Investigation Office (SFIO) has charged the erstwhile top management members of the group&#8217;s financial services subsidiary IFIN of forming a &#8220;coterie&#8221; with its auditors and independent directors to defraud the company while running the business as their &#8220;personal fiefdom&#8221;. <\/p>\n<p>Officials also said it is just a tip of the iceberg in this massive fraud case, involving defaults totalling an estimated amount of over Rs 90,000 crore, as the SFIO&#8217;s first chargesheet concerns just one entity, IL&amp;FS Financial Services Ltd (IFIN), and the probe is already underway against the parent firm Infrastructure Leasing and Financial Services Ltd (IL&amp;FS) and several other subsidiaries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Launching a massive crackdown on perpetrators of the IL&amp;FS scam, the Serious Fraud Investigation Office (SFIO) has charged the erstwhile top management members of the group&#8217;s financial services subsidiary IFIN of forming a &#8220;coterie&#8221; with its auditors and independent directors to defraud the company while running the business as their &#8220;personal fiefdom&#8221;. Officials also said it is just a tip of the iceberg in this massive fraud case, involving defaults totalling an estimated amount of over Rs 90,000 crore, as the SFIO&#8217;s first chargesheet concerns just one entity, IL&amp;FS Financial Services Ltd (IFIN), and the probe is already underway against [&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-277103","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\/277103","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=277103"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/277103\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=277103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=277103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=277103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}