What Does First Forensic Audit on IL&FS Reveal?
In this episode, Sucheta Dalal, Managing Editor of Moneylife, decodes the first interim audit report by Grant Thronton on Infrastructure Leasing and Financial Services (IL&FS). The audit revealed at least 10 types of possible frauds by IL&FS involving over Rs 13,000 crore. The massive IL&FS scam came to light in September 2018 when the IL&FS group companies began defaulting their debt obligations. Till date, the IL&FS is under probe by several state agencies including SFIO.
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