New Delhi, June 7 (TIWN) The Ministry of Corporate Affairs (MCA) has hinted at the indifference of RBI on the IL&FS's financial services arm (IFIN) for not meeting the basic criteria on CRAR (Capital-to-risky Asset ratio) and NOF (Net owned Funds) and the company's auditors' taking refuge in such lack of response from the apex bank in taking action on time against the company.

A secret report of MCA notes that one of the auditors BSR had based its opinion on the discussion that the management had with RBI for reporting the CRAR as per the existing method adopted by the company despite RBI observation in inspection report from FY 2014-15.

When there is no sufficient and appropriate basis as to report the CRAR as per the method followed by the company in light of RBI not giving any relaxation in this manner, the auditor relied on the management discussion with RBI.