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INDIAN (B)

IL&FS sees mgmt collusion, fraud in IFIN’s NPAs

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“We have initiated legal action against companies that have defaulted on due payment to IFIN, after giving them adequate notice to make payment. We also propose to take legal action in cases where loans have been sanctioned in collusion — by concerned committee of office bearers — with the borrowers,” said an IL&FS spokesperson in response to a query from TOI.



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