The National Company Law Appellate Tribunal (NCLAT) on Wednesday dismissed the pleas of debt-ridden IL&FS auditors — Deloitte Haskins & Sells and KPMG arm BSR & Associates — challenging their impleadment in the case involving alleged fraud in IFIN, a subsidiary of IL&FS.
A two-member NCLAT bench led by Chairman Justice SJ Mukhopadhaya dismissed the pleas of auditors and other independent directors. The appellate tribunal, however, granted a relief to both auditors and other independent directors by allowing the operation of its earlier interim order passed on July 29, 2019 for two weeks.
On July 29, the NCLAT stayed the order of the Mumbai bench of the National Company Law Tribunal (NCLT) to implead the auditors and the independent directors of IL&FS.
