New Delhi: The Ministry of Corporate Affairs is ready to strike against Deloitte Haskins and Sells in the murky IL&FS case. IANS learns that MCA has taken an aggressive view over malpractices by Deloitte over the last decade which have led to papering over the large cracks in its finances.
Misrepresentation, cooking of books by auditors and malafide practices with respect to the web of subsidiaries are at the kernel of Deloitte’s architecture for IL&FS for which MCA will disbar them. On Wednesday, Serious Fraud Investigation Office (SFIO) questioned Deloitte’s former CEO Udayan Sen and two others over alleged audit lapses in the books of IL&FS.
The white collar crime probe agency had recently received a communique from a Deloitte Haskins and Sells whistle-blower, raising several audit shortcomings in the company’s books. The letter alleged that the audit firm had recommended a complex structure to the infrastructure company and that it received a hefty fee from IL&FS.
