In a major blow to audit major Deloitte Haskins and Sells LLP, the National Financial Reporting Authority (NFRA) said on Thursday that the company did not comply with the standards of auditing in the crisis-ridden IL&FS Financial Services (IFIN).   In its audit quality review (AQR),...
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Tightening its noose in the IL&FS (Infrastructure Leasing and Financial Services) case, the Enforcement Directorate (ED) on Wednesday carried out searches at over 12 locations in Madhya Pradesh and Chhattisgarh.   A senior ED official said that the central financial probe agency was...
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Global rating agency Moody's on Monday said pressure on Indian finance companies continues to build up, with some banks heavily exposed to non-bank credit providers, hinting that India's NBFC crisis is far from over, even after a year since the troubles began when a major shadow bank IL&FS...
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Crisis-ridden IL&FS on Wednesday reported a net standalone loss of Rs 22,527 crore for the financial year 2018-19, compared to a net profit of Rs 333 crore during the previous year.   In a statement, the cash strapped lending major said: "The Board adopted prudent provisioning on...
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The Mumbai bench of National Company Law Tribunal (NCLT) has directed the chief executive officers (CEOs) of Axis Bank and Standard Chartered Bank to be present at the next hearing of the IL&FS matter on 16th December.   Hearing a contempt petition against Amitabh Chaudhry and Zarin...
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