New Delhi, Jun 20 (IANS): Days after the Ministry of Corporate Affairs (MCA) moved the National Company Law Tribunal (NCLT) seeking a bar on BSR & Associates and Deloitte Haskins & Sells from audit practices, KPMG arm BSR & Associates LLP has resigned as the statutory auditor of IL&FS Financial Services (IFIN).

The audit firm said that IFIN had sought its explanation on its removal as auditors in May to which it had replied but has, so far, not received any further communication from the financial arm of the crisis-hit IL&FS.

"We confirm that BSR & Associates LLP has resigned as auditors of IL&FS Financial Services (IFIN or the Company) on June 19, 2019," a statement from BSR & Associates said.

"We had received a notice dated May 13, 2019 from the board of directors of IFIN seeking an explanation on our removal as auditors. We had filed our written response to this notice on May 24, 2019 and provided explanations during a meeting held with IFIN on May 29, 2019. While IFIN has not communicated its decision to us as yet, we do not intend to impose ourselves as auditors of the company," it added.

Along with seeking to bar the two firms from audit operations for five years for their alleged involvement in the financial mismanagement at the IL&FS Group, the MCA also filed an application to appoint a new auditor.

Deloitte Haskins told the tribunal that it is currently not the statutory auditor of IFIN, and was the auditor for the company till the financial year 2017-2018.

"We have also filed our replies to the petitions and applications filed by the Ministry of Corporate Affairs with the National Company Law Tribunal and we will continue defending ourselves vigorously. As the matter is sub judice, we are unable to provide any further comments at this time," BSR & Associates said.

Both the companies were to file their replies by Wednesday (June 19).