India says Deloitte misreading law in challenging government’s call for ban

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    India says Deloitte misreading law in challenging government's call for banIndia has told a tribunal the local auditing affiliate of international accounting group Deloitte Touche Tohmatsu is misreading a key federal law as the firm seeks to avoid a five-year ban on new business, according to legal documents reviewed by Reuters on Sunday. Deloitte Haskins & Sells LLP is contesting the government’s call for the ban on the auditor for its alleged involvement in a financial fraud. The government has said it detected several violations of auditing standards by Deloitte and a KPMG affiliate while investigating fraud at IFIN, a unit of Infrastructure Leasing & Financial Services, whose debt defaults last year triggered fears of a financial contagion.


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