When the reticent Ravi Parthasarathy suddenly resigned on July 21 as the non-executive chairman of Infrastructure Leasing & Financial Services (IL&FS), the holding company of the IL&FS group, which he served for over 30 years, no one quite expected the IIM-A alumnus to set off a financial tsunami over the coming months.
Between the devil and the deep blue sea
After a stupendous run over the past five years, NBFCs face a stormy future amid a liquidity crunch and rising defaults
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