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Masterclass

Masterclass Case Study: A Regulator's Perspective on the IL&FS and DHFL Investigations

A masterclass that studies IL&FS and DHFL from the supervisor's chair rather than the investor's or the auditor's. You work through what RBI, NHB, SEBI and the Ministry of Corporate Affairs actually had in front of them: inspection findings, off-site returns, market signals and whistleblower allegations, and why those signals did or did not turn into action. You then follow the intervention decisions themselves (the Section 241 and 242 supersession of the IL&FS board, and RBI's Section 45-IE supersession of DHFL and its referral under the Financial Service Providers insolvency rules), the sequencing of the SFIO, ED, CBI and SEBI probes, gatekeeper enforcement against rating agencies and auditors, and the reform package that followed, including Scale Based Regulation and Prompt Corrective Action for NBFCs. The course closes with a supervisory failure analysis and a capstone in which you run an intervention decision on a fictional NBFC. Strictly on the public record. Educational content only, not legal advice. Built for chief compliance officers, forensic practice leaders and senior financial crime investigators and regulators.

Financial Sector SupervisionIL&FS Case StudyDHFL Case StudyRegulatory Intervention and ResolutionMulti-Agency EnforcementPost-Crisis Regulatory Reform

MODULES

6

DURATION

4 Hours

TRACK

Forensic Accounting & Compliance

What You'll Master

Map which regulator supervised IL&FS and DHFL, under which statute, and where the mandates left gaps

Reconstruct what supervisors knew from inspections, returns and market signals, and when they knew it

Explain the legal routes used to take control of each company and why each route was chosen

Follow how SFIO, ED, CBI, SEBI and NFRA sequenced parallel investigations on overlapping facts

Assess gatekeeper enforcement against rating agencies and auditors and what it changed

Run a structured supervisory failure analysis on any regulated entity collapse

Make and defend an intervention decision on a deteriorating NBFC using a supervisor's toolkit

Access Level

LEARNER

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Everything included

Full Text Playbooks

Actionable Exercises

Mobile Reading Mode

Lifetime Updates

Curriculum Breakdown

Chapter 1: The Supervisor's Chair

3 Lessons

Why Read IL&FS and DHFL as a Regulator: Two Collapses, One Supervisory Question13 min read

Who Was Watching: RBI, NHB, SEBI, MCA and the Gaps Between Their Mandates14 min read

The Supervisor's Evidence Base: Inspections, Off-Site Returns, Market Signals and Whistleblowers13 min read

Chapter 2: IL&FS Through the Supervisor's Eyes

3 Lessons

The Core Investment Company Framework: Supervising a Group Through One Entity14 min read

RBI Inspections From 2015 to 2018: Findings, Divergences and the Forbearance Question15 min read

When a Board Does Not Act on Supervisory Findings: Letters, Undertakings and Escalation13 min read

Chapter 3: DHFL Through the Supervisor's Eyes

3 Lessons

Housing Finance Under NHB: Supervising a Fast Growing Lender14 min read

Market Signals Before the Regulator Moved: CP Spreads, the September 2018 Sell-Off and the Cobrapost Allegations14 min read

From NHB to RBI: The August 2019 Transfer of HFC Regulation and Why It Mattered13 min read

Chapter 4: The Intervention Decision

3 Lessons

Sections 241 and 242: Why the Government Superseded the IL&FS Board in October 201814 min read

Section 45-IE and the FSP Insolvency Rules: How RBI Took DHFL Into the IBC14 min read

Moratorium and Resolution: Choosing Between Stability and Accountability14 min read

Chapter 5: Investigation and Enforcement Across Agencies

4 Lessons

Sequencing the Probes: SFIO, ED, CBI and EOW on Overlapping Facts15 min read

Gatekeeper Enforcement: SEBI Against Rating Agencies and NFRA Against Auditors14 min read

SEBI's Market Enforcement: Disclosure Lapses, Fund Diversion and Debt Fund Exposure14 min read

Where the Cases Stand: Chargesheets, Attachments, Recoveries and Delay13 min read

Chapter 6: The Regulator's Post-Mortem

4 Lessons

Supervisory Failure Analysis: What Was Known, When, and Why It Did Not Trigger Action15 min read

The Reform Package: Scale Based Regulation, PCA for NBFCs and Risk-Based Supervision14 min read

Capstone: You Are the Supervisor, Running an Intervention Decision on a Fictional NBFC16 min read

Leading Under Scrutiny: Lessons for Compliance Chiefs, Forensic Leads and Supervisors13 min read