IL&FS scam: NLCT allows government to ban Deloitte, BSR

In a major setback to the auditors, the National Company Law Tribunal on Friday rejected Deloitte’s and BSR’s applications challenging the tribunal’s jurisdiction to ban them from business for five years for their omissions and commissions in the IL&FS Group scam. The ministry had in June moved NLCT seeking a five-year ban on these auditors in the IL&FS saga.

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