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Published: Dec 29, 2021
Updated: Dec 29, 2021
After almost four years of IL&FS going bankrupt, its former chairman Ravi Parthasarathy has been arrested by the Chennai police. The entire top brass of IL&FS was earlier arrested by the Enforcement Directorate but Parthasarathy was not touched.
Insiders said Parthasarathy was close to former Finance Minister P Chidambaram and managed to stay out of jail despite there being a BJP government at the Centre. The new board led by Uday Kotak has failed to make much headway in recovering the dues of the banks, and lenders will be happy if they get even 40 per cent of their money back. With Parthasarathy now behind bars, it will be interesting to know where all the money went.
February 15, 2025 - First Issue
Industry Review
VOL XVI - 10
February 01-15, 2025
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