IL&FS Crisis: Deloitte Haskins and Sells challenges validity of S.140(5) of Companies Act before Bombay HC

IL&FS Crisis: Deloitte Haskins and Sells challenges validity of S.140(5) of Companies Act before Bombay HC

Former IL&FS auditor Deloitte Haskins and Sells, accused of connivance in the IL&FS crisis, has moved the Bombay High Court on Thursday challenging the constitutional validity of Section 140 (5) of the Companies Act, 2013 and the Ministry of Corporate Affairs (MCA) plea at NCLT seeking a ban on auditors for five years.

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