[NEWS - GGL:Business] Ex-IFIN directors okayed loans to Siva companies despite RBI reservations - Economic Times

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[NEWS - GGL:Business] Ex-IFIN directors okayed loans to Siva companies despite RBI reservations - Economic Times

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Post by NewsBot » Sat Jun 01, 2019 3:21 pm

Ex-IFIN directors okayed loans to Siva companies despite RBI reservations  Economic TimesThe Serious Fraud Investigation Office (SFIO) said that former directors of IL&FS Financial Services (IFIN) allowed the NBFC to lend to Siva Group companies despite the Reserve Bank of India (RBI) having said in its inspection reports that the collateral was inadequate. Siva Group chairman C Sivasankaran is one of the 30 individuals and entities against whom the SFIO filed its chargesheet on Thursday in the Infrastructure Leasing & Financial Services (IL&FS) default case. The investigative unit of the Ministry of Corporate Affairs recommended prosecution under Section 447 of the Companies A...View full coverage on Google News

Source: https://economictimes.indiatimes.com/in ... 606017.cms

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