Business »  Topic »  IL&FS Scam: Deals involving third party firms under scanner

IL&FS Scam: Deals involving third party firms under scanner


The SFIO probe report shows that these transactions may not be genuine, since they were often given against adequate collateral and sometimes without proper approvals.

A credit of Rs 305 crore extended by IFIN to Attivo Economic Zone, for the stated purpose of development of an industrial park, but SFIO’s probe found it was used for onward lending to ITNL.

Investigative agencies have broadened the probe into the IL&FS scam by looking at circuitous transactions involving third party firms.

The enforcement directorate (ED), which is probing the financial irregularities of the IL&FS group under the Prevention of Money Laundering ...


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