{"id":277632,"date":"2019-06-06T07:34:46","date_gmt":"2019-06-06T07:34:46","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=277632"},"modified":"2019-06-06T08:17:38","modified_gmt":"2019-06-06T08:17:38","slug":"ilfs-case-sfio-recommends-action-against-auditors-for-recovery-of-losses","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ilfs-case-sfio-recommends-action-against-auditors-for-recovery-of-losses\/","title":{"rendered":"IL&amp;FS case: SFIO recommends action against auditors for recovery of losses"},"content":{"rendered":"<p>NEW DELHI: Having initiated a crackdown on a suspected coterie of fraudsters in the IL&amp;FS case, the government&#8217;s financial fraud probe agency SFIO has recommended necessary action against the guilty auditors and also a detailed internal investigation by the RBI to identify reasons for the delay in detecting the lapses.<\/p>\n<p>The Serious Fraud Investigation Office (SFIO) has also recommended a necessary action as per the Companies Act by the current management of IL&amp;FS Financial Services (IFIN) for recovery of the losses suffered by the company due to the fraudulent conduct of the coterie, officials said.<\/p>\n<p>In its first chargesheet, the SFIO has identified a nine-member coterie behind the huge financial fraud at IFIN, which it alleged connived with the statutory auditors and some independent directors to defraud the company while running it as a personal fiefdom.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: Having initiated a crackdown on a suspected coterie of fraudsters in the IL&amp;FS case, the government&#8217;s financial fraud probe agency SFIO has recommended necessary action against the guilty auditors and also a detailed internal investigation by the RBI to identify reasons for the delay in detecting the lapses. The Serious Fraud Investigation Office (SFIO) has also recommended a necessary action as per the Companies Act by the current management of IL&amp;FS Financial Services (IFIN) for recovery of the losses suffered by the company due to the fraudulent conduct of the coterie, officials said. In its first chargesheet, the [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,189],"tags":[],"class_list":["post-277632","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-roads-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/277632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=277632"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/277632\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=277632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=277632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=277632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}