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Supreme Court clears tribunal to act against IL&FS auditors
The Supreme Court has allowed the National Company Law Tribunal (NCLT) to proceed with an investigation and any subsequent actions against the auditors of IL&FS Financial Services, a unit of Infrastructure Leasing and Financial Services. The move comes after the government filed a petition against a 2020 lower court order that had said the auditors are not liable if they resign.
The Supreme Court has allowed the National Company Law Tribunal (NCLT) to proceed with an investigation and any subsequent actions against the auditors of IL&FS Financial Services, a unit of Infrastructure Leasing and Financial Services. The move comes after the government filed a petition against a 2020 lower court order that had said the auditors are not liable if they resign. 
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