NEW DELHI :
PTC India Monetary Companies Ltd (PFS) has appointed a forensic auditor to look into alleged governance lapses flagged by former unbiased administrators.
“That is to tell that as part of good company governance, the corporate has appointed CNK & Associates LLP (Chartered Accountants) to hold out the third-party unbiased forensic audit of inter-alia the problems highlighted by the ex. unbiased administrators,” PFS mentioned in a regulatory submitting on Thursday.
Forensic audit goes deeper into the information of firms and is extra akin to an investigation meant to detect any irregularity, not like statutory audit, which is a compliance requirement, and is supposed to certify that the monetary statements replicate a real image of the affairs of an organization.
The appointment of the forensic auditor comes at a time capital market regulator Securities and Change Board of India (Sebi) and the ministry of company affairs (MCA) have taken observe of the problems raised by three unbiased administrators who not too long ago stop alleging “cases of great lapses in company governance” in PFS. As well as, Rakesh Kacker, a former bureaucrat, too stepped down as an unbiased director from the board of PTC India, additionally citing alleged company misgovernance within the non-bank lender.
PTC India chairman and managing director Rajib Ok. Mishra had in an earlier press meet termed the allegations by the three unbiased administrators of PFS as an try to “malign” the corporate and questioned the timing and intent behind their resignations.
Regulatory businesses take suggestions from unbiased regulators severely given their position because the gate keepers of fine governance within the firm.
Supply: Live Mint