IL&FS case: HC stays proceedings against audit firm BSR at NCLT
The Bombay High Court on Wednesday stayed proceedings against BSR and Associates LLP, former auditor of IL&FS Financial Services, before the National Company Law Tribunal.
BSR had moved the court challenging the validity of the central government’s plea before the NCLT seeking a ban on the audit firm for five years under the Companies Act, 2013.
The government has sought ban on BSR for its role in alleged financial irregularities at the crisis-hit IL&FS Group.
The NCLT was scheduled to begin hearing the plea on September 5.
