Ministry of local administration, Ministry

The agency is carrying out searches at the premises of Rajesh Kotian, Shehzad Dilan, Manu Kochhar and Mukund Sapre.The ED had earlier done similar searches in the case in February after it had filed a criminal case under the Prevention of Money Laundering Act (PMLA).The IL&FS has a total debt of around Rs 91,000 crore and its new board led by Uday Kotak is trying to sell its assets to repay the debt. The crisis came to light in September last year after the group defaulted on few of its commercial papers.Eventually, the government took control of the heavily indebted group in October and set up a new board to manage the company and sail it through the resolution process.The issue has also raised doubts over the role of its top level officials along with the credit rating agencies. Investigations are on at several f ronts.Earlier this month, had reported that the Ministry of Corporate Affairs is concerned about the extent of the wrongdoing in IL&FS when Ravi Parthasarthy was its Chairman and the Ministry is looking at expanding the scope of its ongoing probe to independent directors during that time. This includes many names like R.C. Bhargava, Chairman Maruti Suzuki and S.B. Mathur, former Chairman LIC.( With inputs from IANS )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Delhi Car Blast

Bihar Assembly Election 2025

Stock Market News

Cricket News

Maharashtra News

Mumbai Local

Ministry Of Local AdministrationFOLLOW

Ministry of local administration, Latest News

National :SC dismisses plea by Haj tour operators on pilgrim charges

The Supreme Court on Monday declined to issue any directions to the Centre on a plea filed by the Federation of Haj Private Tour Operators (PTOs), challenging the validity of a condition imposed on Haj Group Organisers (HGOs) to charge the same rates ...

National :Delhi: Patriotic film festival set to be held from Aug 12-18

In order to promote regional language films at national and international level, Ministry of Information and Broadcasting will start a patriotic film festival to mark 70 years of Indian Independence under the banner "70 Saal Azaadi, Yaad Karo Kurb" a ...

Business :ED raids ex-directors of crisis-hit IL&FS

The Enforcement Directorate (ED) on Wednesday carried out searches at the homes and offices of four former directors of the crisis-struck infrastructure lending major IL&FS in Mumbai over connection with an alleged money-laundering case. ...