‘Government can prosecute IL&FS auditors’

The NCLT has given a go-ahead to the government to prosecute Deloitte and BSR Associates for their failure to detect and report the scams that took place across the now bankrupt IL&FS Group and 21 other entities, when they were the auditors of IL&FS Financial Services. The NCLT, in an order posted on its website on Thursday, said the Corporate Affairs Ministry can go ahead with the prosecution based on the findings of the probe conducted by the Serious Fraud Investigation Office (SFIO). But the posting does not mention its views on the government’s demand to ban these two auditors from business for five years. The tribunal also allowed the government’s plea to implead Udayan Sen, a partner of Deloitte and BSR Associates’ partners Kalpesh Mehta and Sampath Ganesh.

Source : https://www.thehindu.com/todays-paper/tp-business/government-can-prosecute-ilfs-auditors/article28567512.ece

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