NCLAT dismisses Deloitte Haskins’ plea on admissibility of SFIO’s report on IFIN
Live MintNew Delhi, Mar 2 Appellate tribunal NCLAT has dismissed petitions by Deloitte Haskins and Sells and its two associates, challenging the admissibility of the second interim investigation report by the Serious Fraud Investigation Office on Infrastructure Leasing and Financial Services. The compilation included documents related to the IFIN investigation report and the amended request regarding the proceedings against them to freeze their assets based on the second interim report by SFIO. However, the National Company Law Appellate Tribunal was not convinced and said the ground raised by Deloitte Haskins and Sells and its auditors for rejecting the compilation of documents and interim report submitted by the SFIO cannot be accepted at this stage as they are yet to be examined when applications are decided on merits. Section 212 of the Companies Act 2013 states that if fraud has taken place in a company and due to such fraud, any director, key managerial personnel, officer of the company or any other person or entity has taken undue advantage or benefit, the government may file an application after the SFIO report before the tribunal for appropriate orders on disgorgement of such asset, property or cash and also for holding that person liable personally.
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