SEBI Appoints Forensic Auditor to Review Tarc Financial Statements
Real Estate

SEBI Appoints Forensic Auditor to Review Tarc Financial Statements

Securities and Exchange Board of India (SEBI) on Monday appointed a forensic auditor with respect to financial statements of Tarc, a luxury housing developer, for Financial Years 2020-2I to 2022-23. SEBI believes that the disclosure of financial information and business transactions of the Company have been dealt with in a manner which may be detrimental to the interest of investors or the securities markets; and/or an intermediary or a person associated with the securities market, Tarc said in an exchange filing. The company said that it will all necessary information, assistance and cooperation in this regard and shall inform the exchanges of any further developments in the matter. The company remains committed to maintaining the highest standards of corporate governance, ensuring that all processes are conducted with integrity and transparency, the statement added. Further, the company said that it would not impact on financial, operational or other strategic objectives. It will also not impact the strong growth trajectory and long-term value, Tarc added.

Securities and Exchange Board of India (SEBI) on Monday appointed a forensic auditor with respect to financial statements of Tarc, a luxury housing developer, for Financial Years 2020-2I to 2022-23. SEBI believes that the disclosure of financial information and business transactions of the Company have been dealt with in a manner which may be detrimental to the interest of investors or the securities markets; and/or an intermediary or a person associated with the securities market, Tarc said in an exchange filing. The company said that it will all necessary information, assistance and cooperation in this regard and shall inform the exchanges of any further developments in the matter. The company remains committed to maintaining the highest standards of corporate governance, ensuring that all processes are conducted with integrity and transparency, the statement added. Further, the company said that it would not impact on financial, operational or other strategic objectives. It will also not impact the strong growth trajectory and long-term value, Tarc added.

Next Story
Infrastructure Energy

Rs 15K Sq Km of Mahanadi Onshore Basin Being Scouted For Oil, Natural Gas

Oil India Limited is exploring around 15,000 sq km area on Mahanadi onshore basin to look for oil and natural gas. Speaking at an event here on Monday, Oil India chairman and managing director (CMD) Ranjit Rath said the exploration work is underway at the Mahanadi onshore basin and Odisha has the likelihood to immensely benefit out of it. Oil India also has other huge investments going on in the state, he added. This apart, Rath said they are also laying the longest crude oil pipeline in the country of which 200 km will pass through Odisha. “We are laying the pipeline as part of the proposed..

Next Story
Infrastructure Energy

HPCL Signs Pact with NLDS For Integration Of API

Hindustan Petroleum Corporation Ltd (HPCL) has signed an agreement with NICDC arm to integrate its APIs with Unified Logistics Interface Platform (ULIP), an official statement said on Monday. National Industrial Corridor Development Corporation Ltd (NICDC) is the implementing agency of India's ambitious infrastructure programme to develop industrial cities. "This partnership is a significant step towards enhancing transparency, operational efficiency, and innovation in India's logistics sector," the commerce and industry ministry said. It said the HPCL API of ULIP provides fuel station and pri..

Next Story
Infrastructure Energy

Centre Doesn’t Owe Any Mining Royalty Dues: Minister

The Union govt has denied that it owes Jharkhand around Rs 1.36 trillion in mining (coal) royalty, an issue the mineral-rich state has been raising since long. The statement of the Union finance ministry in the Lok Sabha on Monday could further strain relations between the Centre and the state, where the Hemant Soren-led INDIA bloc govt has been claiming that Jharkhand has been denied its bonafide due in lieu of mining coal by several public sector units. While responding to a query raised by Purnia (Bihar) MP Rajesh Ranjan (Pappu Yadav) in Lok Sabha, Union minister of state for finance Pankaj..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000