NCLT stays its own order to prosecute IL&FS auditors for four weeks

The National Company Law Tribunal on Thursday stayed its order allowing the government to prosecute the three partners of Deloitte and BSR Associates for their alleged culpability in the IL&FS fraud following a plea to allow them to appeal at the tribunal. 

Staying its own order of July 18, the Mumbai NCLT gave 10 days to Udayan Sen and Kalpesh Mehta of Deloitte, and Sampath Ganesh of BSR Associates to file an appeal and said the impugned order would remain inoperative for four weeks from Thursday. 

“We have heard the argument of the senior counsel for the applicant and the