India says Deloitte misreading law in challenging govt`s call for ban
(WorldNews Business)

NEW DELHI — India 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...