Powered by

IFIN case: Deloitte ignored RBI rules, finds SFIO probe

Jun 09, 2019 - The Economic Times

The plot thickens around top-notch audit firm Deloitte and its once-prized client IFIN, the company at the centre of the IL&FS fiasco.Deloitte, according to the Serious Fraud Investigation Office (SFIO), had disregarded the Reserve Bank of India's regulations, turned a blind eye to IFIN's 'evergreening' of loans, and never cross-checked any of the 'tutored end-use certificates' the company used to mislead lenders.The allegations - based on emails, depositions, fund-flow information and interroga...