Harshita Vaashite, B.A.LL.B. (Hons.), Hidayatullah National Law University, Raipur, C.G.
ABSTRACT
IL&FS found itself in severe crisis which exposed its vulnerable finance structure. It is a narrative of financial mismanagement web which is intricately connected to regulatory mechanism and governance. This scandal had far-reaching impacts with liquidity crisis, disruptions in market, etc.
This article will take us through IL&FS's journey, looking at its corporate finance framework, the subtleties of its demise, and the consequences that followed. The corporate finance implications of the auditor's function, regulatory bodies' actions, and the ensuing corporate governance measures will all be closely examined.
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