IL&FS fraud could've been uncovered in 2017

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The long-running fraudulent activities at crisis-ridden IL&FS could have come to light much earlier in 2017, but for a cover-up job done by the top management in connivance with the independent directors on a whistleblower complaint, Serious Fraud Investigation Office (SFIO) investigation has revealed. The audit committee too overlooked the whistleblower’s complaint.



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