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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 4185.30
Kalpataru Projects 1367.75
NCC 130.80
Rail Vikas Nigam 201.60
KEC International 333.70
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