Financial markets turmoil is getting scarier: Thomas Isaac on IL&FS mess

As the government is preparing to take over cash-strapped Infrastructure Leasing & Financial Services (IL&FS), Kerala Finance Minister Thomas Isaac said financial markets turmoil is getting scarier.

In a tweet, Isaac, who is also a Member of Central Committee of Communist Party of India (Marxist) Isaac said, "Government takes over IL&FS: India's 'too big to fail' moment? Financial markets turmoil is getting scarier. Are demon managers capable of handling it?"

On Monday, the National Company Law Tribunal (NCLT), Mumbai, superseded the board of beleaguered infrastructure financier Infrastructure Leasing & Financial Services (IL&FS) with six new directors after the government moved a petition