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
year 2018
when the forensic auditor was appointed by the
respondent-bank and pursuant to the report of the
forensic audit, the Joint Lender ... year 2018 when the forensic auditor
was appointed by the respondent bank and
pursuant to the report of the forensic audit, the
Joint Lender
Mangal & Co. for conducting Forensic Audit and on
05.06.2017, the banks have discussed the Forensic Audit
report and noted that the forensic auditor ... thereafter the
forensic audit of the account was got to be done by the
forensic auditor, which submitted its forensic audit report
dated 08.05.2017 observing
12th January, 2018, it was decided that only upon
a satisfactory Forensic Audit Report, a proposal would be moved
before the RBI seeking approval
other issue that arises is the “borrowers”
entitlement to the Forensic Audit Reports.
2. Leave granted.
3. The core issue that arises in the case ... audit
when there is a direction for forensic audit; service of show
cause notice along with the conclusions of the forensic audit
report; the consideration
Associates") to conduct
a forensic audit of MBIL. The GSA Associates gave its Forensic Audit
Report dated 3.6.2019.
30. On 13.3.2020, the respondent-Bank ... option and power to
conduct a forensic audit on their own before CDR approval.
No such forensic audit was initiated or recommended or
even considered
Associates") to conduct
a forensic audit of MBIL. The GSA Associates gave its Forensic Audit
Report dated 3.6.2019.
30. On 13.3.2020, the respondent-Bank ... option and power to
conduct a forensic audit on their own before CDR approval.
No such forensic audit was initiated or recommended or
even considered
Associates to conduct a Forensic Audit of the
MBIL for the period between 01.04.2012 and 31.03.2015. The audit report
prepared ... Specific Purpose Audit' by Kashayap Sikdar & Co.
32. However, upon examination of the actual forensic audit reports (GSA
Report and Sikdar Report
Haribhakti & Co. LLP, Chartered
Accountants, submitted their Forensic Audit Report to the
Resolution Professional of MBSL.
32. On 9.4.2019, the Respondent Bank issued ... column, the
Respondent Bank has referred to observations made in the Forensic
Audit Report, based on which it has concluded that there is
diversion
Haribhakti & Co. LLP, Chartered Accountants,
submitted their Forensic Audit Report to the Resolution Professional of
MBSL.
32. On 13.3.2020, the Respondent Bank issued ... letter dated 11.1.2021, the
Respondent Bank furnished a copy of Forensic Audit Report.
40. Thereafter, certain correspondences took place between the parties
in relation
