New Delhi, Appellate tribunal NCLAT has dismissed appeals by audit firm BSR & Associates LLP and its former partner N Sampath Ganesh, in which they challenged the authority of the Serious Fraud Investigation Office (SFIO) to seek disgorgement of assets in a case linked to IL&FS Securities Services Ltd (ISSL).
A three-member NCLAT bench has upheld the order passed by the Mumbai Bench of the National Company Law Tribunal (NCLT), which had on March 17, 2026 rejected their plea contending that SFIO has no power or locus to file any application seeking attachment/disgorgement of assets before NCLT.
