IL&FS Fiasco – Is it the tip of the NPA Iceberg ?

IL&FS Fiasco – Is it the tip of the NPA Iceberg ?

https://www.youtube.com/watch?v=buqyCbvNNTQ&t=2s An IIM Ahmedabad Alumnus as  Chairperson and Managing Director, London School of Economics masters degree holder as vice chairman, Senior level executives of reputed international investment companies, a no. of Chartered Accountants and many more with over 30 years of experience and having served in reputed organisations in India and across the Globe- Do the above people seem overqualified? Well, to give you the fact here the above was the board of IL&FS which recently defaulted on their commercial papers, bonds, inter corporate deposits, non-convertible debentures and do you know that these were rated as extremely safe investments by the credit rating agencies? Such an exquisite infrastructure and financing company, with over 169 subsidiaries which had undertaken major infrastructural projects in India now has only $27Million in hand and repayment obligation of $500Million over the next six months ! Are you still sitting there in shock and not able to get what exactly happened here? Then don’t worry because we have got you covered...
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