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Solv-Jumbotail merger faces delay over audit findings
May 16, 2025
|Financial Express Kochi
Flagging Concerns
THE PROPOSED MERGER between business-to-business (B2B) e-commerce platforms — Solv India and Jumbotail — may get delayed and also see a possible revision in valuation after an audit flagged related-party transactions involving inflated revenue figures, according to people familiar with the matter.
Sources said a due diligence audit conducted by SR Batliboi and Associates, a member firm of EY, raised concerns about Solv's dealings with a company called Manish Handloom. The audit found that transactions with the firm may have led to inflated sales numbers for Solv, raising red flags for Jumbotail's management.
هذه القصة من طبعة May 16, 2025 من Financial Express Kochi.
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