Deloitte Haskins & Sells and BSR & Associates Llp will have to file reply by June 19.
The Ministry of Corporate Affairs (MCA) has moved National Company Law Tribunal (NCLT) seeking to bar Deloitte Haskins & Sells and BSR & Associates Llp from audit practice for five years for their alleged involvement in the financial mismanagement at IL&FS Group.
MCA has also filed an application to appoint a new auditor.
Deloitte Haskins told the tribunal that it is no longer the statutory auditor for IL&FS Financial. Deloitte was the auditor for the company till 2017-18(Apr-Mar) while BSR & Associates is currently the statutory auditor for the company.
Deloitte Haskins & Sells and BSR & Associates Llp will have to file reply by June 19.
The application has been moved by Manmohan Juneja and argued by Sanjay Shourey, director of legal prosecution, Ministry of Corporate Affairs.
This is the second time that Manmohan Juneja, Regional Director, has initiated such action against auditors. In the past also, he had initiated same action against Zen Shaving Limited.
The tribunal will hear the case on June 21.
The ministry has also made Securities and Exchange Board of India, Reserve Bank of India, and Institute of Chartered Accountants of India as respondents in the case.
The government has also added three individuals - Kalpesh Mehta, Udayan Sen and Sampat Ganesh - as parties.
Moneycontrol was the first to report about MCA's plan to move NCLT to bar auditors.
