IL&FS Crisis: Rise and fall of an infrastructure behemoth Scandal by Industrial Economist - November 3, 20180 Ten years ago, almost to the date, Satyam happened. It was India’s Enron moment and PwC was the statutory auditor. Inflated profits, overstated balance sheet and missing cash were a part of that gigantic corporate fraud. And now, infrastructure behemoth, IL&FS has given India its Lehmann moment. While prima facie IL&FS