It was in August this year that CRISIL rated the IL&FS with the highest credit rating of AAA. Months after that the company was termed as junk. Organisations like LIC and SBI ended up making huge investments in IL&FS but nobody kept a check on that. While people invest their money in the National Savings Fund, the government ends up investing that money in Air India. And while we have an audit-body of CAG (Comptroller and Auditor General of India) what it majorly does is making waves about the scams of certain political parties and not keep a check on such huge public investments that goes down the drain. The question here arises, is CAG becoming a political activist instead of an audit body? Mr. Sujit Nair, Managing Editor of HW News Network and Mr. Akhilesh Bhargava, Business Editor of HW Business and Finance share their takes and insights on the matter.
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