State vs Ravi Parthasarathy — IL&FS financial fraud case

Updates

1. Arrest11 Jun 2021

   Ravi Parthasarathy, former chairman of IL&FS Group, arrested

   The Economic Offences Wing of the State Police has arrested Ravi Parthasarathy, 69, former chairman of the IL&FS Group, in connection with the alleged...

   Explanation in simple terms

   Ravi Parthasarathy, the former head of the IL&FS financial group, has been arrested by authorities. This development is part of an ongoing investigation into allegations of major financial fraud within his company. His arrest indicates that law enforcement is taking further action to hold former leadership accountable for the firm's collapse. He is now in custody as the government continues to examine his role in the reported financial irregularities.

   thehindu.com
2. News11 Jun 2021

   Chennai police arrest former chairman Ravi Parthasarathy in 1 lakh crore IL&FS scam

   The Economic Offences Wing (EOW) of Chennai Police arrested Ravi Parthasarathy in the money laundering case which triggered a liquidity crisis in the...

   Explanation in simple terms

   The Chennai police have arrested Ravi Parthasarathy, the former chairman of the company IL&FS, regarding a massive financial fraud case. He is accused of being involved in a scam worth 1 lakh crore rupees. This arrest is a significant step in the ongoing investigation into how the company lost such a vast amount of money. Authorities are now moving forward with legal actions to address this large-scale financial scandal.

   thenewsminute.com