IL&FS mess: When a director was threatened with jail for raising questions

Whistleblower-director slapped with criminal defamation for raising questions in 2015; matter was eventually thrown out by Supreme Court

On 24 August 2018, at the board meeting of New Tirupur Area Development Corp Ltd (NTADCL), a director played an audio-clip of a threat he had received. The threat, issued at the audit committee meeting on 25 May 2018 came from S Bhat, a nominee director of the failed Infrastructure Leasing & Financial Services (IL&FS). Here is what it says:

S Bhat, IL&FS nominee director, to a foreign director: One day, if you are put behind the bars, you will come to know.

Director: I am not going to be put behind bars. 

S Bhat: You will be there, you just see. Just