SBI seeks new consolidated transaction review\, forensic audit of Lavasa

SBI seeks new consolidated transaction review, forensic audit of Lavasa

The new forensic audit was necessitated after the National Company Law Tribunal (NCLT) cleared a consolidated bankruptcy process of all Lavasa companies.

Topics
State Bank of India SBI | Lavasa | forensic audit

Dev Chatterjee & Raghu Mohan  |  Mumbai 

State Bank of India has sought a new consolidated transaction review and forensic audit of Lavasa Corporation, the real estate subsidiary of HCC, to provide a clear picture of the company’s financial metrics on a consolidated basis. The new forensic audit was necessitated after the National Company Law Tribunal (NCLT) cleared a consolidated bankruptcy process of all Lavasa companies.

Lavasa Corporation was sent for debt resolution in 2018 after the real estate company failed to repay Rs 7,700 crore. Among Lavasa’s creditors, Axis Bank claimed the highest amount of Rs ...
First Published: Fri, June 26 2020. 23:33 IST