The Securities and Exchange Board of India (SEBI) has ordered forensic audit of Venmax Drugs and Pharmaceuticals (VDPL), which figures in the list of suspected shell companies. The order is to check misuse of funds even as the regulator lifted trading curbs imposed on it. The regulator has directed the exchange to appoint an independent forensic auditor.
VDPL is among the firms against whom SEBI initiated action on August 7 by ordering trading restrictions after it received the list of 331 suspected shell companies from the government.
Venmax Drugs and Pharmaceuticals (formerly known as Yenkey Drugs and Pharmaceuticals) manufactures and sells pharmaceuticals and drugs in India. It trades in bulk drugs, intermediates, and biotech products.
