IL&FS: Bombay HC Grants Interim Stay On MCA's Proceedings Before NCLT Seeking A 5 Yr Ban On Accounting Firm BSR [Read Order]

The Bombay High Court on Wednesday granted ad-interim relief to KPMG's arm BSR and consultants restraining the Ministry of Corporate Affairs from continuing its proceedings before NCLT, Mumbai under Section 140(5) of the Companies Act, 2013 seeking a 5-year ban on the accounting firm. Division bench of Justice Ranjit More and Justice NJ Jamadar directed the...