{"id":277915,"date":"2019-06-11T04:46:05","date_gmt":"2019-06-11T04:46:05","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=277915"},"modified":"2019-06-11T04:50:25","modified_gmt":"2019-06-11T04:50:25","slug":"govt-moves-nclt-for-5-year-ban-on-ilfs-financial-services-auditors","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/govt-moves-nclt-for-5-year-ban-on-ilfs-financial-services-auditors\/","title":{"rendered":"Govt moves NCLT for 5-year ban on IL&amp;FS Financial Services auditors"},"content":{"rendered":"<p>The Ministry of Corporate Affairs (MCA) moved the National Company Law Tribunal on Monday to bar the auditors of IL&amp;FS Financial Services (IFIN) \u2014 Deloitte Haskins &amp; Sells and BSR &amp; Associates \u2014 from business for five years for alleged collusion with the IFIN management and failure in reporting mismanagement. <\/p>\n<p>The application filed by the MCA was against Deloitte, BSR and individuals including former Deloitte Chief Executive Udayan Sen, Deloitte partner Kalpesh Mehta and BSR partner Sampath Ganesh. BSR is a KPMG network accounting firm. <\/p>\n<p>The MCA\u2019s move to bar the IFIN auditors comes after the investigation by the Serious Fraud Investigation Office (SFIO), which revealed that the auditors connived with IFIN\u2019s former directors in concealing information about wrongdoings of the management despite having full knowledge of the sorry state.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ministry of Corporate Affairs (MCA) moved the National Company Law Tribunal on Monday to bar the auditors of IL&amp;FS Financial Services (IFIN) \u2014 Deloitte Haskins &amp; Sells and BSR &amp; Associates \u2014 from business for five years for alleged collusion with the IFIN management and failure in reporting mismanagement. The application filed by the MCA was against Deloitte, BSR and individuals including former Deloitte Chief Executive Udayan Sen, Deloitte partner Kalpesh Mehta and BSR partner Sampath Ganesh. BSR is a KPMG network accounting firm. The MCA\u2019s move to bar the IFIN auditors comes after the investigation by the Serious [&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":[135,130,168],"tags":[],"class_list":["post-277915","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-roads-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/277915","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=277915"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/277915\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=277915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=277915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=277915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}