The Securities and Exchange Board of India (SEBI) has ordered forensic audit of Assam Company India that figures in the list of 331 suspected shell companies after prima facie observations about misuse of funds by the firm. The market regulator has however lifted the trading restrictions imposed on the firm.
The regulator has directed the stock exchange to appoint an independent forensic auditor to verify any misrepresentation of financials and business of the company as well as any misuse of the funds or books of accounts.
Assam Company India is an India-based company engaged in tea cultivation and manufacturing. The company’s segments include Plantations, Oil and Gas, Special Economic Zone (SEZ) and Others.
Company Name | CMP |
---|---|
Tata Consumer Produc | 1108.00 |
CCL Products (India) | 590.95 |
Mcleod Russel | 26.30 |
Goodricke Group | 185.30 |
Jay Shree Tea | 106.40 |
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