IL&FS crisis: Charges are vague, no mismanagement, says Hari Sankaran

The former vice chairman lays his response to the government in an affidavit blaming macro-environment

Ousted vice-chairman of Infrastructure Leasing and Financial Services (IL&FS), Hari Sankaran, in an affidavit, denied any charge of mismanagement or compromise in corporate governance norms or risk management stating that the allegations are "general and vague with no substantiation or detail." 

He says that a foreign international agency should carry out the financial investigations into the beleaguered financial and infrastructure Goliath. 

“Such a course would avoid any hint of a conflict of interest, as over the years, the known experts/consultants having a presence in India or their associates would have done some work for [IL&FS] and its group companies, having regard to