The Serious Fraud Investigation Office (SFIO) has asked India’s top law firms and consultants to disclose all information they have on IL&FS, the country’s largest shadow bank which collapsed a year ago.
The central agency under the Ministry of Corporate Affairs (MCA) has sought information for the past 10 years when the firms had advised and represented IL&FS or its subsidiaries and group companies. The SFIO notices, served under various Sections of the Companies Act, were received 10 days ago. Information has been sought on the nature of advice provided by them and fee charged, among other things.