The government had re-constituted the IL&FS board after the crisis surfaced. The parliamentary standing committee on finance has asked the government to set up a high-level inquiry commission to identify the reasons behind the Infrastructure Leasing & Financial Services Ltd (IL&FS) default crisis. ET has reliably gathered that the panel, which will table its report in the matter on Wednesday, has …

  Grigory Dukor | Reuters Sergei Gorkov, Chairman of State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)”, speaks with participants during the St. Petersburg International Economic Forum (SPIEF), Russia, June 2, 2017. It has offices in a sleek Manhattan skyscraper. Its bonds are accessible to millions of American investors. And it holds ties to some of New York’s …