The company suffers from several corporate governance issue. The prominent incident has been already mentioned by several members. I found another issue in their governance: while reading Annual Report for FY 23, I noticed that they have took service of SRBC & CO for audit service. This firm was defaulted by NFRA as they did not follow accounting standards for auditing. You can find the detailed report at the below link:
2.NFRA finds EY arm SRBC’s appointment as auditor of IL&FS illegal, says audit …
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