Search
+
Business News›Industry›Services›Consultancy / Audit›Grant Thornton report: How ITNL led to fall of Infrastructure Leasing & Financial Services
Read. Lead. Succeed. ET Prime - For Members Only
- Sharp Insight-rich, Indepth stories across 20+ sectors
- Access the exclusive Economic Times stories, Editorial and Expert opinion
Synopsis
Infrastructure Leasing & Financial Services (IL&FS) defaulted on payments in September 2018, triggering a crisis in the shadow banking system. The government-chosen board that took over IL&FS asked Grant Thornton to conduct a forensic audit of ITNL.
Mumbai: Grant Thornton India uncovered irregularities in the operations and financial management of IL&FS Transportation Networks India Ltd (ITNL) and its special purpose vehicles (SPVs), it alleged in a report on the roads unit of the IL&FS network. It also alleged rigging of bids and said lenders extended loans despite being aware of the company’s precarious financial condition. Infrastructure Leasing & Financial Services (IL&FS) defaulted on
BY
Rashmi Rajput
ET Bureau
5 mins read, Last Updated:
Gift A Story
Share member-only stories with your friends or family and help them read it for free.
Gifting Limit Reached!
Hey , no more stories left for you to gift.
No worries! You will get a limit of 15 stories next month to share with your friends and family.
Gift This Story
Stories Left!
You can gift upto 15 stories in a month.
- FONT SIZE
AbcSmall
AbcMedium
AbcLarge
- SAVE
- COMMENT
Continue reading with one of these options:
Limited Access
Free
Login to get access to some exclusive stories
& personalised newsletters
Login Now
Unlimited Access
Starting @ Rs120/month
Get access to exclusive stories, expert opinions &
in-depth stock reports
Subscribe Now
ET
Uh-oh! This is an exclusive story available for selected readers only.
Worry not. You’re just a step away.
Prime Account Detected!
It seems like you're already an ETPrime member with
Login using your ET Prime credentials to enjoy all member benefits
Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.
To read full story, subscribe to ET Prime
Get Unlimited Access to The Economic Times
₹34 per week
Billed annually at ₹2499 ₹1749
Already a Member? Sign In now
Super Saver Sale - Flat 30% Off
On ET Prime Membership
Claim Offer »
Already a Member? Sign In now
Sign in to read the full article
You’ve got this Prime Story as a Free Gift
Rs 49 for 1st month
Then Rs. 1,749 per year
SUBSCRIBE NOW
Valid only with UPI, Credit & Debit Cards Autopay
Choose Payment Mode & Plan
-
-
-
You can cancel your subscription anytime
-
-
-
Netbanking, Credit & Debit Card
Subscribe with Google
₹399/month
Monthly PLAN
Billed Amount ₹399
No Trial Period
₹208/month
(Save 49%)
Yearly PLAN
Billed Amount ₹2,499
15 Days Trial +Includes DocuBay and TimesPrime Membership.
₹150/month
(Save 63%)
2-Year PLAN
Billed Amount ₹3,599
15 Days Trial +Includes DocuBay and TimesPrime Membership.
Quarterly
$13.99
7 Days Trial
Yearly
(Save 40.0%)
$33.99
15 Days Trial
Get ET Prime for just ₹2499 ₹1749/yr
Offer Exclusively For You
Save up to Rs. 700/-
ON ET PRIME MEMBERSHIP
Avail Offer
Offer Exclusively For You
Get 1 Year Free
With 1 and 2-Year ET prime membership
Avail Offer
Offer Exclusively For You
Get 1 Year Free
With 1 and 2-Year ET prime membership
Avail Offer
Offer Exclusively For You
Get Flat 40% Off
Then ₹ 1749 for 1 year
Avail Offer
Offer Exclusively For You
ET Prime at ₹ 49 for 1 month
Then ₹ 1749 for 1 year
Avail Offer
Holi Offer on ETPrime
Get flat 20% off
Avail Offer
Avail Offer
To Read the full Story, Subscribe to ET Prime
Sign in to read the full article
You’ve got this Prime Story as a Free Gift
Access the exclusive Economic Times stories, Editorial and Expert opinion
Unlock this story and enjoy all members-only benefits.
- 8 insight-rich stories published daily
- 4000+ in-depth Stock Reports
- Print Edition, the digital Newspaper
- 2 Stock Researches everyday
Offer Exclusively For You
Save up to Rs. 700/-
ON ET PRIME MEMBERSHIP
Avail Offer
Offer Exclusively For You
Get 1 Year Free
With 1 and 2-Year ET prime membership
Avail Offer
Offer Exclusively For You
Get 1 Year Free
With 1 and 2-Year ET prime membership
Avail Offer
Offer Exclusively For You
Get Flat 40% Off
Then ₹ 1749 for 1 year
Avail Offer
Offer Exclusively For You
ET Prime at ₹ 49 for 1 month
Then ₹ 1749 for 1 year
Avail Offer
Holi Offer on ETPrime
Get flat 20% off
Avail Offer
Avail Offer
'; }); } if(listing) { var h3 = "You tried reading " + listArr.length + " locked stories in the past " + threshold + " days.", h4 = "Become an ET Prime member and don't miss out on these exclusive stories."; var html = '
' + h3 + '
' + h4 + '
- ' + listing + '
'; $('#paidSCWidget').html(html); var callback = $('#paidSCWidget').attr('data-callback'); if(callback && window[callback]) { window[callback](); } customDimension.dimension72 += ' | Shown SYFT no Trial_With Missed Paywalled Articles Collection'; } else { _processNormal() } } }); } else { _processNormal(); } } catch (e) { _processNormal(); } }, function () { _processNormal(); }); //console.log('storyCollectionLoad', $); }
Why ?
Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors
Stock analysis. Market Research. Industry Trends on 4000+ Stocks
Clean experience with
Minimal AdsComment & Engage with ET Prime community Exclusive invites to Virtual Events with Industry Leaders A trusted team of Journalists & Analysts who can best filter signal from noise Get 1 Year Complimentary Subscription of TOI+ worth Rs.799/-
