NCLT warns Deloitte, KPMG with a five-year ban
Shortpedia
Content Team
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The National Law Tribunal (NCLT) has stated that it has the jurisdiction under the Companies Act to prosecute network firms Deloitte and KPMG for their alleged role in financial irregularities. The stand means that both the firms can be banned for five years for failing to red-flag problems in ILFS Financial Services (IFIN). The Mumbai bench on Friday rejected the miscellaneous application filed by the auditors.
