Major lapses in Deloitte audit of IL&FS Financial Services, says SFIO

The preliminary probe by the Serious Fraud Investigation Office (SFIO) has found that audit firm Deloitte was responsible for falsification of financials of IFIN, a subsidiary of Infrastructure Leasing & Financial Services (IL&FS), according to an official in the know. The serious fraud office, which is reaching a closure in the case, would submit its probe report next month, it is learnt. The SFIO has come across many irregularities in the books of IL&FS, specifically relating to the IL&FS Financial Services (IFIN) account. “They were partners along with the IFIN old board and it .....

Key stories on are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.