SFIO has recommended that the RBI should conduct an internal investigation to find out reasons for the lapse and take appropriate action.
An agency under the Ministry of Corporate Affairs (MCA), the SFIO has already questioned the IL&FS auditors, key managerial personnel and its credit rating agencies in this regard.
On February 27 2012, the assistant director of SFIO filed the case against the accused.
According to SFIO officials, the agency is likely to present its second report soon and after getting a formal nod, may initiate action against the said officials.
A petition was filed in the Hyderabad High Court on Thursday challenging the inaction of the Registrar of Companies and Serious Fraud Investigation Office in conducting forensic audit and in assigning
Modi and Choksi have come under the scanner of multiple agencies in the wake of the nearly Rs 11,400 crore fraud disclosed by state-owned Punjab National Bank.
Kingfisher case: Serious Fraud Investigation Office gets nod for filing prosecution cases against Vijay Mallya
The probe agency had red-flagged a slew of violations of companies law by Mallya, Kingfisher Airlines and officials, including serious corporate governance lapses.