NCLAT dumps Deloitte Haskins’ plea on admissibility of SFIO’s report on IFIN

New Delhi: NCLAT has dismissed petitions by Deloitte Haskins & Sells and its two associates, challenging the admissibility of the second interim investigation report by the Serious Fraud Investigation Office (SFIO) on Infrastructure Leasing & Financial Services (IFIN). The petitions also contested the compilation submitted by the government (MCA) to the tribunal.

The compilation included documents related to the IFIN investigation report and the amended request regarding the proceedings against them to freeze their assets based on the second interim report by SFIO.

A two-member bench of the NCLAT upheld an earlier order issued by the Mumbai Bench of the NCLT. On July 22, 2024, the tribunal ruled that the second interim SFIO report, along with the accompanying documents, could be considered for both interim relief and the final declaration.

“We, thus, are of the view that the second SFIO Report as well as the compilation of documents filed by the GoI before NCLT was fully admissible & can be looked into by NCLT for proceeding under Section 212 (14A) & no error has been committed by it in rejecting IA No 65 of 2024,” NCLAT said.