The ongoing pandemic has impacted the recovery of loans given by IL&FS Financial Services (IFIN), and also delayed the sale of the real estate assets of the IL&FS Group, IL&FS non-Executive Chairman Uday Kotak said on Monday.   Mr Kotak also said that the pandemic is likely to impact...
The Securities Appellate Tribunal (SAT) has ruled that the Securities and Exchange Board of India (SEBI) has the power to initiate proceedings under Section 15-I(3) of the SEBI Act against India Ratings and Research Pvt Ltd and enhance the penalty on the rating agency for violating norms in...
Challenging the Bombay High Court order concerning BSR & Associates LLC and Deloitte Haskins and Sells in the IL&FS scam, the Centre has told the Supreme Court that the HC's interpretation of the Companies Act' Section 140 (5) would cause serious prejudice and profoundly impact the...

In a big relief for audit firms BSR and Associates, and Deloitte Haskins and Sells, both former auditors of IL&FS Financial Services, the Supreme Court refused to stay the Bombay High Court order which quashed all prosecution against the firms in the IL&FS scam. A bench headed by Chief...
UPDATED on 13 June 2020 at 9.10am to add response from IL&FS.   In the past couple of weeks, two publications have published exclusive reports on the second forensic audit of ITNL (IL&FS Transportation Network Ltd). ITNL, like IFIN (IL&FS Financial Services), is one of the two big...

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