INSUBCONTINENT EXCLUSIVE:
By Saloni Shukla and Shruti SrivastavaThe Indian government has sought to reopen the books of Infrastructure Leasing Financial Services
group, alleging evidence of auditing lapses was uncovered while looking into allegations that funds were siphoned from the beleaguered
Shorey, a lawyer for the government told the National Company Law Tribunal on Friday
The court told the government to notify those involved, including regulators and tax authorities, of its petition and set Jan
infrastructure financier, which missed a series of debt repayments this year
The government in October replaced the management of the troubled company.
The initial findings of a body overseeing accountants found that
Deloitte Haskins Sells LLP, SRBC Co
LLP and BSR Associates LLP, according to a copy of the petition seen by Bloomberg.
A spokeswoman for EY, an SRBC Co
affiliate, declined to comment before seeing a copy of the petition, while there was no immediate response to an email sent to Deloitte
Affairs, has asked for a re-examination of the books over the past five years of Infrastructure Leasing Financial Services, ILFS Financial
and ILFS Transportation Networks Ltd
He asked that the central government be allowed to appoint an auditor and the books to be finalized in three months.
