Deloitte Says Started Review Into Whistle-Blower Claim on IL&FS

Deloitte LLP’s India operation said it has initiated a review into allegations, made by an anonymous whistle-blower and contained in a Moneylife News & Views report, that the audit firm benefited by helping IL&FS group manipulate its accounts.

• India seized control of the infrastructure and finance company last year after defaults by the conglomerate, with about $12.6 billion in debt, which rocked markets.
• Deloitte benefited from IL&FS’s growth, enjoyed preferred adviser, role and was given advisory contracts at high fees, according to anonymous whistle-blower letter, Moneylife reported.
• “We acknowledge having received the anonymous whistle-blower letter on which the recent media ...