Reprive for IL&FS auditors as NCLT stays own order to prosecute them
The National Company Law Tribunal (NCLT) on Thursday stayed its own July 18 order to implead Deloitte Haskin & Sells and BSR & Associates in the IL&FS proceedings. The NCLT gave the audit firms time till July 28 to file an appeal, according to the order uploaded on the tribunal’s web portal. The legal counsel of Deloitte Haskin & Sells had last week moved the tribunal seeking a four-week stay on the order passed by the tribunal to implead the auditors of IL&FS Financial Services (IFIN) in the tribunal’s proceedings against IL&FS for operational mismanagement.
On July 18, in response to an application filed by the Ministry of Corporate Affairs, the NCLT had passed an order to implead 23 additional respondents, including the auditors of IFIN – Kalpesh Mehta and Udayan Sen of Deloitte and Sampath Ganesh of BSR.
