MCA Names IL&FS Executives as respondents in case

The MCA has filed its interim report on the IL&FS case on December 3, naming several high-profile individuals as respondents. There are as many as six high-profile executives, including Vibhav Kapoor, Chief Investment Officer of IL&FS; K Ramchand, Managing Director of IL&FS Transportation Networks; RC Bawa, Managing Director of IL&FS Financial Services; and Rengarajan, Managing Director and CEO of IL&FS Securities Services, have been named in the interim report.

A total of 302 group companies have been named as respondents in the case.

The report is based on an ongoing probe by the Serious Fraud Investigation Office (SFIO).

IL&FS has accumulated a debt of more than Rs 91,000 crore and has defaulted on several of its commitments.

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