The corporate affairs ministry Thursday proposed to NCLT four auditing firms to restate the accounts of the crippled Infrastructure Leasing & Financial Services (IL&FS) and some of its subsidiaries to verify fraudulent transactions.
The move comes even as the ministry awaits the NCLT view on banning Deloitte, Haskins & Sells and BSR Associates, which were the statutory auditors of these companies before going belly up. While Deloitte quit in FY18, BSR, which is an affiliate of KPMG, did so only in June 2019.
The ministry had moved the NCLT in June seeking a ban on them, which has been questioned by these auditors on the powers of NLCT order a ban after an SFIO probe had established corruption and fraud in these companies.
