Sebi gives clean chit to Tree House Education, promoters in misstatements of financial case
时间:2024-05-18 14:05:00 阅读(143)
After a six-year long forensic audit, Sebi has given a clean chit to Tree House Education & Accessories Ltd, its promoters and other officials in a case related to alleged misstatements of the company’s financials.
In its letter to Tree House Education dated October 19, Sebi’s corporate finance investigation department has written to the promoters that no action would be taken against the company after the forensic audit initiated by the regulator showed no instances of any financial misgivings.
Also read: Remarkable Sale! Indian Railways earns over Rs 2,500 crore through scrap sales in 6 months
The reprieve for the company comes after a six-year long audit by Sebi following unsubstantiated allegations.
Following the allegations in 2016, Sebi had initiated an investigation for the period from April 2011 to June 2017. After this, Sebi in its interim order in 2018, had restrained Tree House, it’s promoters — Rajesh Bhatia, Geeta Bhatia, Giridharilal S Bhatia — and its two other officials from accessing the securities market and dealing in any securities in a matter related to alleged misstatements of the financials of the firm.
The regulator had directed NSE to appoint an independent auditor or audit firm to conduct a detailed forensic audit of the books of accounts of Tree House.
Also read: How has Xi changed China
The auditor was asked to verify manipulation of books of accounts and misrepresentation, including of financials and business operations of Tree House.
Also, the auditor was required to verify any wrongful diversion or siphoning of the company funds through ‘related party transaction’.
上一篇:Cello World sees bumper debut on bourses; lists over 28% premium; Should you hold or book profit-
下一篇:Winter Whispers- Unveiling Hong Kong’s hidden outdoor havens for nature enthusiasts
猜你喜欢
- Axis Bank’s shares gain on Q2 results; Should you buy, hold or sell the stock-
- Asset base of passive funds tracking Nifty indices reaches Rs 7 lakh cr mark in May
- Cash-for-query row- TMC MP Mahua Moitra issued show-cause notice after she fails to vacate govt bungalow
- BSE comes out with new guidelines for shifting of SMEs to main board
- Bharat Forge rating – Reduce- Numbers were below expectations
- Bullion prices expected to correct further; Gold support placed at $1795, silver support seen at $19
- Chai pe Charcha with BrandWagon
- Charts suggest Jamna Auto, Bandhan Bank stock may be gearing for up-move; ICICI Direct sees 16% upside
- Big banner films could see box office pickings top Rupees 13K crore