@natjay, Finally someone spoke out about it and I appreciate your concerns. We are very well aware of the fact that IL&FS has either gone bankrupt or is in the process of going bankrupt. We are always cautious when it comes to risk management and we have been taking ultra-precautionary measures to avoid any sort of risk to our clients or us. We double-check everything we do with them and the process of settlements is verified on a daily basis. So we're good and they don't pose any default risk to us at the moment. But the good news is that
IndusInd Bank has acquired IL&FS Securities Services! This is the same company that we are associated with. The buyout transaction was in the pipeline since last year and we knew that it was just a matter of time before they get taken over. Their securities division has been performing well and to our knowledge, their compliance requirements were very high & bureaucratic. The acquisition is successful, some of the old management has quit and it's going to be a new beginning for the company. Please note, that the fact that IndusInd Bank has acquired IL&FS is an indication that the operation within the company was straightforward and honest without any scams or debt traps.
Hope this clarifies.