Representative Image
Representative Image

ED raids underway at locations linked to ex-IL&FS chairman, others

ANI | Updated: Feb 20, 2019 13:12 IST

Mumbai (Maharashtra) [India], Feb 20 (ANI): The Enforcement Directorate (ED) is conducting raids at four to five locations of people related to the Infrastructure Leasing & Financial Services (IL&FS) on Wednesday.  

Raids are also being conducted at locations of Ravi Parthasarathy, the former chairman of the IL&FS.

Further details are awaited.

The National Company Law Tribunal (NCLT) had in October last year granted permission to the central government for superseding the Board of the debt-ridden firm.

It also appointed a six-member panel, headed by Kotak Mahindra Bank Managing Director Uday Kotak, to take over the management with immediate effect.

IF&LS reportedly has over Rs 91,000 crore in debt. (ANI)