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    Sebi and RBI may scrutinise bank transactions of some firms, says report

    Sebi and RBI may scrutinise bank transactions of some firms, says report

    Sebi and RBI may scrutinise bank transactions of some firms, says report
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    By CNBC-TV18  IST (Updated)

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    The Securities & Exchange Board of India and the Reserve Bank of India may start scrutinising certain companies following suspicious transactions and auditor resignations in the past few weeks, The Economic Times reported.

    The Securities & Exchange Board of India and the Reserve Bank of India may start scrutinising certain companies following suspicious transactions and auditor resignations in the past few weeks, The Economic Times reported.
    Most of the transactions at such companies happened through banking channels, said the report citing two persons in the know.
    Also, the auditor resignations at the companies cited reasons involving group transactions and bank loans raised for the purpose of being used for another, the report added.
    The latest in the series of auditor resignations, is that of Price Waterhouse & Co Chartered Accountants LLP resigned as an auditor of Eveready Industries, saying that it did not receive sufficient evidence regarding transactions pointed out by the auditors during the audit of the company's financial results for the March quarter.
    The firm also resigned from Reliance Capital and Reliance Home Finance citing certain transactions involving group firms, the report added.
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