Corporate India facing multiple probes over the past three months

About 300-plus IL&FS subsidiaries and its managements have come under a scanner and so have their respective auditors

Over the past three months, probes by investigative and tax agencies have encompassed a vast range of corporate India. 

That includes rating agencies and even the top accounting firms which set right the books of others. Observers say a slew of frauds that got unveiled in the recent past have made the probe agencies pro-active, widening the ambit of their investigations.

The Enforcement Directorate (ED), Central Bureau of Investigation (CBI) and Serious Fraud Investigation Office (SFIO) are looking hard at the role of top management in multiple sectors. The latest is the financial fraud at Infrastructure Leasing and Financial Services