NCLAT agrees to hear pleas of IL&FS auditors against impleadment

| | New Delhi
  • 0

NCLAT agrees to hear pleas of IL&FS auditors against impleadment

Wednesday, 31 July 2019 | PTI | New Delhi

The National Company Law Appellate Tribunal (NCLAT) has said it would hear the pleas of auditors of IL&FS — Deloitte Haskins & Sells LLP and B S R Associates LLP — against an order passed by NCLT to implead them in the ongoing case of oppression and mismanagement of the scam-hit firm.

The case will be heard on August 19.

A two-member bench of the NCLAT has directed the Ministry of Corporate Affairs (MCA) and others to file their replies in the matter within a week.

“Interim order dated 23rd July, 2019 passed by the National Company Law Tribunal, Mumbai Bench, Mumbai, in MA Nos. 2581 & 2071 of 2019 in CP 3638/241-242/2018 shall continue till next date,” the NCLAT said.

It further added, “However, the interim order will not come in the way of the National Company Law Tribunal and the Union of India to proceed in accordance with law.”

Earlier, the Mumbai bench of the National Company Law Tribunal (NCLT) had on July 18 allowed the MCA’s plea to prosecute Deloitte, BSR Associates and other auditors for their failure to detect and report the scams that took place at IL&FS under their watch as auditors.

Udayan Sen and Kalpesh Mehta, partners at Deloitte, and Sampath Ganesh, a partner at BSR & Associates, had also been impleaded as respondents by the NCLT order.

On July 23, the NCLT Mumbai bench had stayed its own order for four weeks to allow the auditors to appeal against the impleadment.

In its order, the NCLAT, while seeking the government’s response on the auditors’ plea against impleadment, said the NCLT Mumbai bench’s order of stay would continue till August 19, when it would hear the case.

State Editions

MCD polls: AAP councillor Mahesh Khichi elected Mayor

15 November 2024 | Staff Reporter | Delhi

DDA launches Phase-II of 2024 Sasta Ghar housing scheme

15 November 2024 | Staff Reporter | Delhi

City court issues order for Amanatullah’s release

15 November 2024 | Staff Reporter | Delhi

Cops bust cow smugglers: One dead, six injured

15 November 2024 | Staff Reporter | Delhi

Sunday Edition

The Tuning Fork | The indebted life

10 November 2024 | C V Srikanth | Agenda

A comic journey | From Nostalgia to a Bright New Future

10 November 2024 | Supriya Ghaytadak | Agenda

A Taste of China, Painted in Red

10 November 2024 | SAKSHI PRIYA | Agenda

Cranberry Coffee and Beyond

10 November 2024 | Gyaneshwar Dayal | Agenda

The Timeless Allure of Delhi Bazaars

10 November 2024 | Kanishka srivastava | Agenda

A Soulful Sojourn in Puri and Konark

10 November 2024 | VISHESH SHUKLA | Agenda