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NFRA finds serious lapses in statutory audit of IL&FS Transportation Networks

24 Sep 2021 Evaluate

The National Financial Reporting Authority (NFRA) has found serious lapses in the statutory audit of IL&FS Transportation Networks (ITNL) for the 2017-18 fiscal, including that the company's losses were understated by at least Rs 2,021 crore. The statutory audit was conducted by SRBC & Co LLP, Chartered Accountants.

IL&FS Transportation Networks is an India-based surface transportation infrastructure company.

Peers
Company Name CMP
Larsen & Toubro 3770.00
Kalpataru Projects 1376.45
NCC 130.30
Rail Vikas Nigam 203.00
KEC International 390.40
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