India looks to ban Deloitte, KPMG over audit failures

Posted On: Jun. 14, 2019 6:05 AM CST

India is looking to impose a five-year ban on U.S.-based Deloitte Touche Tohmatsu and Netherlands-based KPMG International's Indian unit for alleged audit-related failures at Infrastructure Leasing and Financial Services Ltd., Economia reported citing sources. The country's Ministry of Corporate Affairs filed a petition with the National Company Law Tribunal after IL&FS defaulted on several loan repayments in 2018.