In a Satyam-like rescue act for Infrastructure Leasing & Financial Services (IL&FS), the government on Monday successfully moved the National Company Law Tribunal to supersede the company’s board and change its management.
Simultaneously, the government has alerted immigration authorities against possible escape of some of the directors on the superseded board. Sources said that the Centre may approach the courts shortly to order impounding of passports of some of the former directors.
In a Satyam-like rescue act for Infrastructure Leasing & Financial Services (IL&FS), the government on Monday successfully moved the National Company Law Tribunal to supersede the company’s board and change its management.
Simultaneously, the government has alerted immigration authorities against possible escape of some of the directors on the superseded board. Sources said that the Centre may approach the courts shortly to order impounding of passports of some of the former directors.
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