View Full Profile
DHFL has diverted Rs 34,615Cr borrowed from banks. The CBI has alleged that DHFL‘s promoters formed 87 shall companies, created more than 2,60,000 "Fictitious borrowers' and set up "Virtual Branch "to divert money borrowed from banks".
The SBA should verify the details of stock statement dated 31st March of 2021 submitted to the bank and the values of drawing power claimed therein with the values reported in audited balance sheet of 31-03-2021
In case, NFRA takes any drastic decision to exempt the need for statutory audit of MSME companies for any reason, the size of frauds would go up and the Indian economy will be in the doldrums.
Whenever an Auditor finds any new investments of either long term or short term of unrelated assets on the face of company Balance Sheet during audit, there is a need to verify and confirm the source for the investment.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
