Former IL&FS directors got lucrative paychecks even as firm collapsed

Arun K Saha, erstwhile joint MD & chief executive officer (CEO), took home a hefty remuneration of Rs 6.88 crore for FY19. He was also a whole-time director of the subsidiaries and group companies.

While Infrastructure Leasing and Financial Services (IL&FS) went belly up in September 2018, its erstwhile directors were earning large sums of money as remuneration, the company’s 2018-19 annual report shows.

Even as the government replaced the entire board in October 2018, the former directors earned handsome salaries for the first half of financial year 2018-19 (FY19).

Hari Sankaran, who served as vice-chairman and managing director (MD) of IL&FS and as a non-executive director of the company till September 2018, took home Rs 6.38 crore as remuneration. Former chairman Ravi Parathasarthy took home about Rs 4 crore as a non-executive director