 "IL&FS")
Risk management committees are supposed to define the risk appetite of an organisation and ensure that appropriate measures are taken to achieve a prudent balance between risk and reward in business. Though there is no regulatory diktat on the frequency of meetings, it’s extraordinary that the risk management committee of Infrastructure Leasing & Financial Services (IL&FS) did not find time to have even one meeting in the last two years, despite enough warning signals about the declining health of the infrastructure financing conglomerate.
IL&FS’ consolidated debt had climbed to over Rs 910 billion in 2017-18 and in its limited review report,
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
