Letter to BS: Govt right in appointing a new board for debt-laden IL&FS

What about the auditors and regulators involved with their myriad operations?

Apropos your editorial “Time for swift action” and the front page report “Govt takes control over IL&FS” (October 2); one must acclaim the “surgical strike” by the National Company Law Tribunal and the government, by superseding the entire board of IL&FS and bringing in people of impeccable reputation and proven record. This move — as you say — “echoes the Satyam move” but this is a much bigger case with complex operations. Salvaging this one would need much more than what was done in the case of Satyam.

If one were to believe the Ministry of Corporate Affairs’ petition — all