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Blame game begins at IL&FS as ex-independent directors defend their role
Ousted independent directors of Infrastructure Leasing & Financial Services Ltd (ILFS), whose board was packed off on Monday, have defended their role by pointing out that they knew of the impending financial crises for two to three years.
They said they pushed for alternative solutions such as selling the company, hawking some of its assets, and an initial public offering, but the nominee directors of the shareholders did not endorse their suggestions. Read more...
Govt set to promulgate an Ordinance to bring amendments to Companies Act
The government is set
