Supreme Court gives green signal to SFIO to reopen and recast accounts of IL&FS for last five years

Shruti Mahajan June 4 2019

The Supreme Court today allowed the Serious Fraud Investigation Office (SFIO) to reopen and recast accounts of IL&FS and two of its subsidiary companies for the last five years.

The Ministry of Corporate Affairs had approached the Supreme Court seeking a vacation of the stay imposed by the Supreme Court through its order passed on April 29. 

The National Company Law Appellate Tribunal (NCLAT) had allowed SFIO to reopen the accounts of IL&FS . . .

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