New Delhi: Giving a big relief to Deloitte Haskins & Sells and BSR & Associates, both former auditors of IL&FS Financial Services Ltd, the Supreme Court (SC) on Tuesday refused to stay the Bombay High Court (HC) order to quash all prosecution against the two firms pending before the National Company Law Tribunal (NCLT) and a special court in the city.
According to sources, both the companies were auditors of IL&FS which is accused of not paying off its debts amounting to around Rs 91,000 crores. The case was highlighted in 2018.
Deloitte was the auditor till 2018 and later on, BSR had taken over but resigned in June 2019. They are accused by the government's Serious Fraud Investigation Office(SFIO) of being involved in the IL&FS financial fraud case. SFIO accuses the auditors of concealing information regarding the financial position of IL&FS.
