News digest: IL&FS crisis, crude oil bill, Paytm staff held, and more

JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward

3 firms to advise  IL&FS on revival 

The new board of Infrastructure Leasing & Financial Services (IL&FS) took the first big step towards reviving the debt-ridden company by appointing two financial and transaction advisors and a restructuring advisor. Read more

CBI raids own headquarters as top bosses fight, PMO steps in

In an irony of sorts, a team of Central Bureau of Investigation (CBI) sleuths on Monday conducted a raid on the 10th floor of its own headquarters in New Delhi while the two warring top bosses were summoned by the Prime Minister’s Office (PMO). To add to the public