Beyond Headlines

What caused the IL&FS scam?


It was in July that IL&FS was given the highest credit rating of AAA. But now the company seems to be in the doldrums. Its CEO Ravi Parthasarthy has already flung the country quoting medical reasons. The SFIO has already sent a lookout notice for K Ramchand, Arun Kumar Saha and all the top executives of the IL&FS. But the more important question is that while is it obvious that the IL& FS was a quite mismanaged company right from its start, what is it that caused the scam? Mr. Sujit Nair, Managing Editor of HW News Network and Mr. Akhilesh Bhargava, Business Editor of HW Business and Finance share their insights on the matter.

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ISI agent who leaked ‘ BrahMos’ missile information arrested from Nagpur

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Nagpur | The Uttar Pradesh Anti Terrorist Squad (ATS) on Monday arrested a Defence Research and Development Organisation ( DRDO) employee from Nagpur who was allegedly working for Pakistan Intelligence Agency ISI.

Identified as Nishant Agarwal, the DRDO employee used to provide important information related to India’s security to Pakistan’s Intelligence agency ISI along with US. According to the received information Agarwal, a Uttarakhand native was arrested in a joint raid conducted by Military Intelligence and Uttar Pradesh ATS at the Nagpur. The UP ATS alleged that Nishant was providing secret information related to India’s important missile programme Brahmos to Pakistan and US Agency. The police have registered a case against Nishant Agarwal under the official Secret Act.

The BrahMos is a medium-range ramjet supersonic cruise missile that can be launched from submarine, ships, aircraft, or land manufactured by the DRDO under the Indo-Russian partnership.

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