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The Hindu
The Hindu
National
The Hindu Bureau

ED searches premises of former auditors of IL&FS

ED ILFS SFIO

The Enforcement Directorate (ED) on Wednesday carried out searches against two former auditor firms of Infrastructure Leasing and Financial Services Limited (IL&FS) in connection with money laundering and financial irregularities.

IL&FS had filed for bankruptcy in 2018. The auditors are currently with BSR and Associates and Deloitte Haskins and Sells. Their premises in Mumbai were searched under the provisions of the Prevention of Money Laundering Act (PMLA), they added.

The Central agency swung into action a week after the Supreme Court set aside a Bombay High Court verdict that quashed a probe by Serious Fraud Investigation Office against the two companies, leading to action against them under the Companies Act and allowing the National Company Law Tribunal (NCLT) to take its enquiry forward against them.

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