India Business News: New Delhi: Fraud-tainted IL&FS, IL&FS Financial and ITNL have undertaken a massive restatement of accounts, with IL&FS's loss now estimated at Rs 9,60.
Several top executives of the three companies and auditors associated with some of them now face criminal charges due to the irregularities. Additionally, both auditors and their firms are undergoing disciplinary procedures. Meanwhile, the new leadership has divested a substantial portion of assets to settle a significant portion of debts owed to creditors.
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