Transactions of ₹13,110 crore that were allegedly fraudulent have been flagged in Srei Equipment Finance (SEFL), currently undergoing corporate insolvency resolution, by transaction auditor, BDO India, appointed by the administrator of the company.
While announcing its results for the quarter ended September 30 this year, Srei Infrastructure Finance (SIFL) said the administrator received from BDO audit reports indicating in SEFL there were transactions amounting to ₹13,110 crore that were "fraudulent" under Section 66 of the Insolvency and Bankruptcy Code (IBC).
It included transactions of ₹1,283 crore determined to be "undervalued".
Accordingly, the administrator filed applications under Section 60(5) and Section 66 of the IBC before the Kolkata Bench of the National. Company Law Tribunal (NCL T) on various dates till October 21, 2022, for adjudication, it said. SEFL is a wholly owned subsidiary of SIFL.
The administrator did not respond to an email sent by Business Standard.
هذه القصة مأخوذة من طبعة November 15, 2022 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة November 15, 2022 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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