October 1, 2018 / 12:15 PM / a year ago

IL&FS hid facts from board: finance ministry source

People walk past a building of IL&FS (Infrastructure Leasing and Financial Services Ltd.) outside its headquarters in Mumbai, September 25, 2018. REUTERS/Francis Mascarenhas

NEW DELHI (Reuters) - Infrastructure Leasing and Financial Services (IL&FS), whose recent defaults have roiled Indian markets, hid important facts from the company’s board, a senior finance ministry source said on Monday.

The infrastructure company is currently looking for an equity injection after a subsidiary failed to make interest payments.

Reporting by Manoj Kumar, Writing by Alasdair Pal; Editing by Malini Menon

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below