Setback once again to auditors in IL&FS case as NCLT junks plea

Earlier, the Ministry, on 23 June, moved the NCLT seeking a five-year ban on them in the IL&FS saga. Dismissing their petitions challenging the jurisdiction of the tribunal to ban them, the NCLT however, said it will hear the Ministry’s application seeking a five-year ban on…. Continue Reading

SC stays payment obligation under option contract in IL&FS case

“The Supreme Court in the matter of ILFS Securities Services Limited Vs SEBI and others, has passed an order dated 26 June wherein payment obligation under the option contract (NIFTY CE 5000 27-JUN-2019) has been stayed,” NSE Clearing said in a release. Continue Reading

ILFS case: Deloitte & BSR question MCA’s ban demand

Auditors Deloitte Haskins & Sells and KPMG’s affiliate BSR Associates, who are under fire for alleged lapses in connection with the IL&FS scam, questioned Ministry of Corporate Affairs’ (MCA) demand for a five-year ban on them. Continue Reading