IL&FS Crisis: AZB, Veritas win for BSR & Associates, Deloitte Haskins as Bombay High Court quashes SFIO complaint against auditors

IL&FS Crisis: AZB, Veritas win for BSR & Associates, Deloitte Haskins as Bombay High Court quashes SFIO complaint against auditors

The Bombay High Court today quashed the Serious Fraud Investigation Office (SFIO) complaint against Deloitte Haskins and Sells and KPMG arm BSR & Associates in connection with the IL&FS financial fraud case (N Sampath Ganesh v. Union of India).

The Court also upheld the constitutional validity of Section 140(5) of the Companies Act, 2013.

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