IL&FS crisis: ICAI seeks explanation from audit firms
Updated : October 10, 2018 11:42 PM IST
The crisis at diversified IL&FS, following loan defaults by some group entities, has raised concerns about liquidity crunch in the financial system.
In the recent past, there has been news reports regarding diversion of loan money in IL&FS and its subsidiary companies, the ICAI said in a statement.
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