The complaint alleged that CAM was legal adviser to the former board of IL&FS, which is facing criminal and legal action by government agencies, and continues to perform that role for the new board, too.
According to the RTI reply received by Madhya Pradesh-based social activist, Chandra Shekhar Gaur, while IRCTC has paid Rs 38.89 crore to insurance companies, passengers have so far paid Rs 7.29 crore in the past two years.
As per sources in know of the matter, after the entire process is completed, Ritesh Agarwal’s stake in Oyo will rise from the current 9-10 per cent to around 30 per cent. This would take the valuation of the company to around $10 billion.
Sources confirmed that Brickwork Ratings — an agency promoted by Canara Bank — allegedly gave favourable ratings to debt instruments of IL&FS group companies as its founder director D. Ravishankar allegedly received IL&FS Group’s hospitality in Spain along with his family.
Rahul Bhatia’s entity has refuted the allegations stating that the parties went in to the ventures “with their eyes open” and that the deal was struck between “seasoned business people who made their own assessment of risks, their rights and their obligations”.