NCLAT refuses to stay NCLT hearing in IL&FS fraud case

  • The NCLAT said NCLT Mumbai will continue its scheduled hearing in the case of their alleged role in the IL&FS fraud matter
  • The NCLT, however, will not pass any final order till its next hearing on 20 September, the NCLAT said

PTI
Updated21 Aug 2019, 12:06 AM IST
(Photo: Mint)

New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Tuesday said the NCLT Mumbai will hear an application against auditing firm Deloitte in the IL&FS Group scam case but the tribunal will not pass any order in the matter till its next hearing.

A three-member bench of the NCLAT headed by Chairperson Justice S J Mukhopadhaya said that the Natonal Company Law Tribunal (NCLT) will hear the application by the corporate affairs ministry under the application under Section 140(5).

The tribunal, however, would not pass any order till its next hearing on September 20, the NCLAT said.

The NCLAT order came on an appeal moved by Deloitte against the NCLT order on August 9 rejecting the auditor's plea which challenged the tribunal's jurisdiction to ban it for five years for omissions and commissions in the IL&FS Group scam.

The NCLT is scheduled to hear on September 5 the corporate affairs ministry's application seeking a five-year ban on the auditor afresh on September 5.

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First Published:21 Aug 2019, 12:06 AM IST
HomeCompaniesNewsNCLAT refuses to stay NCLT hearing in IL&FS fraud case

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