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The Economic Times
The Economic Times
Sidhartha

IL&FS staffers stay captive in Ethiopia as bank raises hurdle

After spending 50 days in captivity, Chaitanya Hari, an engineer with IL&FS Transportation Network Ltd (ITNL) in Ethiopia, was hoping to be released on Tuesday to be home in time for his sister’s wedding next week.

What had raised expectations for Hari and his three colleagues was Exim Bank’s move to lift the freeze on ITNL’s bank account. But Ethiopian Commercial Bank executives have refused to lift the freeze, further delaying the departure of the employees who are now left with no money to even buy food and are living without electricity as their employer is refusing to transfer any funds.

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