The National Company Law Tribunal (NCLT) Mumbai today allowed the government’s plea for re-opening and re-casting of financial accounts of Infrastructure Leasing & Financial Services (IL&FS), and its subsidiaries IL&FS Transportation Networks Ltd (ITNL) and IL&FS Financial Services Ltd (IFIN) for the past five years.
In December, the MCA through its Western Regional Director Manmohan had filed a plea for re-casting of financial accounts for the three companies for the period between years 2012-13 and 2017-18.
The Ministry of Corporate Affairs (MCA) suspects these accounts have been prepared in a fraudulent manner in order to “provide a rosy picture” of its financial health, its Director (Legal Protection) Sanjay Shorey said. Read More
Latest posts by Moneycontrol.com (see all)
- OPEC scraps April meeting but keeps oil cuts in place - March 18, 2019
- Higher demand, US sanctions and OPEC supply cuts pushing crude price up - March 18, 2019
- Natural Gas Prices Corrected Over 50% In Just 3 Months: Is The Trend Set To Continue? - March 17, 2019