The Serious Fraud Investigation Office (SFIO) will investigate the role of statutory auditors in crisis-hit IL&FS and its subsidiaries amid concerns over financial irregularities, sources privy to the developments told CNBC-TV18.
In a rare move, the government has superseded the board of IL&FS on Monday against the backdrop of debt defaults by some of its group entities that triggered fears of liquidity crunch.
During financial year 2017-18, IL&FS had 169 group companies. Out of them, 24 were direct subsidiaries, 135 indirect subsidiaries, 6 joint ventures and 4 companies were associate companies.
First Published: Oct 4, 2018 8:58 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Stampede-like situation disrupts Rahul Gandhi, Akhilesh Yadav's joint rally in Uttar Pradesh
May 19, 2024 4:26 PM
Ladakh Lok Sabha election: With Independent candidate's entry, it's now a 3-way contest for BJP and Congress
May 19, 2024 4:01 PM