Forensic auditor appointed to probe transactions from FY2017 to FY2026
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Ansal Properties and Infrastructure's newly reconstituted Board has appointed AdvaRisk as forensic auditor to review transactions from April 2016 to March 2026. Preliminary review found possible undervaluation, illegal related party deals, unauthorised transactions, misuse of borrowed funds, and possible diversion of funds including customer receipts and RERA account amounts. The previous Board had claimed a clean slate. Old sale deed authorisations for Sushant Taj City project cancelled and new ones issued.
Forensic audit may uncover financial irregularities. Negative near term for stock; could trigger regulatory action and management changes.