MUMBAI: The government-appointed board of Infrastructure Leasing & Financial Services has proposed punitive action against Deloitte Haskins & Sells (DHS) and BSR & Co, part of the KPMG network, said people with knowledge of the matter.
In its report to the Ministry of Corporate Affairs (MCA), the board said it had found the two firms failed to issue warnings about shortcomings while auditing the books of IL&FS Financial Services (IFIN), a subsidiary of IL&FS.
Earlier, the Serious Fraud Investigation Office (SFIO), the investigation wing of the MCA, had in its ongoing probe allegedly found that DHS failed to exercise due diligence.
