Sustainable
Structuring of Stressed Assets Scheme 6 and suggested a forensic audit
report and Techno Economic Viability 7 study in its meeting held ... forensic audit commissioned
or initiated by the consortium leader or the largest lender under MBA.
25. Clause 8.9.5 states that the forensic audit
petitioner, the Company submitted
clarifications to the Forensic Auditor. Basing on the Forensic Audit
Report, dated 29.08.2016, on 31.08.2016, the JLF closed the issue
observing ... Audit Report, dated 06.04.2018), and the other by Dr. K. V.
Srinivas, IRP (Transaction Audit Report, dated Nil). However, the copies of
these Reports were
Respondent No.1
addressed an email dated 16.09.2017 sharing the draft
Forensic Audit report with NFPIL soliciting
clarifications/explanations to the observations recorded ... Auditor. The Petitioners were shocked to observe
that the final Forensic Audit report was finalized on
21.08.2017 itself, a date which is prior to sharing
Company, it was categorically discussed
that based on the Forensic Audit Report there
appears to be no preferential transaction
(under section ... Circular dated 01.07.2015 by placing
reliance on Forensic Audit report dated
26.12.2018 by one M/s R.S Patel and Co. It is
the case
defaulter. The show cause notice
broadly disclosed that based on the Forensic Audit Report dated
09.05.2019, which disclosed that there is a diversion ... email, the petitioner had requested, (a) a copy of the
forensic audit report referred to in the show cause notice
opportunity to
the petitioner and without furnishing a copy of the Forensic Audit
Report which is the basis for declaring the accounts of the
petitioners ... opportunity to the petitioners
by supplying the relevant extracts of the Forensic Audit Report,
basing upon which the bank categorized the loan accounts
intention to classify their account as fraud
account; (2) that no forensic audit report was
supplied to the petitioners before passing the order,
whereby ... notice,
given an opportunity to explain the
conclusions of the forensic audit report, and
be allowed to represent by the banks/ JLF
before their account
permitted the lending banks
to proceed on the basis of the Forensic Audit Report submitted
by M/s Haribhakti & Co. LLP. It further declared ... observations made by the Forensic Auditors (M/s
Haribhakti & Co. LLP). Thus, the Forensic Audit Report had also
taken into consideration the response
Moreover, such show-
cause notice is based on a Forensic Audit Report dated August 24,
2018 of M/s. Deloitte, which has been successfully challenged ... contemplated in
law.
19. It is reiterated that the Forensic Audit Report, which formed one of the
bases of the adverse inferences against the petitioner
said notice, Respondent No.1 referred to forensic audit report
furnished by SEBI and its order dated 14.03.2019 alleging diversion/
W.P.(C) 9358/2019 ... fact
has also been amply illustrated, as already mentioned, in the
Forensic audit report of the SEBI dated 12.12.2018 shared with
the department and also
