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Government asks NCLT to freeze assets of IL&FS unit’s former auditors

The Ministry of Corporate Affairs (MCA) has asked the National Company Law Tribunal (NCLT) to freeze the assets of the former auditors, including Deloitte Haskins & Sells LLP and BSR Associates LLP, of an Infrastructure Leasing & Financial Services (IL&FS) subsidiary, arguing that the step is needed to stop fund diversion. “We are seeking an order to freeze assets of audit firms, its partners as well as the erstwhile directors of IFIN,” argued Sanjay Shorey, director — legal prosecution, MCA. 

Read More at The Economic Times News date : 7 Aug 2019, Wednesday

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