Govt likely to ban Deloitte for alleged malpractice in IL&FS accounts: Report
If this were to happen, it will be the second such instance after Price Waterhouse was nailed in the Satyam scam
Deloitte on its part contends that the Group's defaults began in May 2018
Even as Deloitte Haskins and Sells remains perched precariously on the high wire over its questionable role in the IL&FS audit process, it appears that the Ministry of Corporate Affairs may invoke section 140 (5) of the Companies Act to debar the firm for alleged malpractice in IL&FS accounts. This extreme action is being warranted after Deloitte's alleged misdemeanours and conduct in the IL&FS case.