/ Former IL&FS Managing Director Ramesh Bawa Arrested

NDTV : Apr 15, 2019, 11:12 AM

Former IL&FS Financial Services CEO Ramesh Bawa was arrested by the Serious Fraud Investigation Office (SFIO), the investigating arm of Ministry of Corporate Affairs, on Friday, after the Supreme Court refused to grant him protection from apprehension.  The matter relates to a series of defaults by Infrastructure Financing and Leasing Services (IL&FS) on its debt obligations last year, underlining the broader concern