IL&FS crisis stokes fears in Ethiopia, 7 Indian employees held hostage over unpaid wages: Report - News Summed Up

IL&FS crisis stokes fears in Ethiopia, 7 Indian employees held hostage over unpaid wages: Report


The Ministry of External Affairs is investigating reports of seven Indian employees of Infrastructure Leasing and Financial Services (IL&FS) being detained by unpaid local staff in Ethiopia. Even IL&FS employees have not been paid in the past five months, he tweeted. The employees added that local staff had panicked due to fears of closure of some road projects being built as Indian and Spanish joint ventures. The IL&FS employees also said they tried assuring the local staff that their salaries would be paid on time. The email adds that the IL&FS management has said it cannot send funds due to restrictions placed by the Reserve Bank of India (RBI).


Source: Ethiopian News November 30, 2018 06:09 UTC



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