Forensic auditor has given clean chit, say RCap arms


MUMBAI: Troubled billionaire Anil Ambani-led Reliance Home Finance (RHF) and Reliance Commercial Finance (RCF) on Sunday said forensic auditor Grant Thornton has given the two companies a clean chit relating to various allegations. These included diversion or siphoning of funds, embezzlement, mala fide operations, falsification of accounts, fraudulent transactions and frauds by its promoters.

Grant Thornton was roped in by lenders of the two subsidiaries of Reliance Capital (RCap) in August 2019 as part of the debt-resolution process. The two companies separately informed the bourses about the forensic auditor’s findings through releases having similar contents.

“We have neither come across any instance of fraud by the company, or any fraud on the company by its officers or employees,” the reports by the auditor were quoted as saying in both the releases by the two companies.

Based on completion of the forensic audit, the companies have now requested its bankers to proceed on a fast-track basis with the debt resolution plan under ‘change of management and control’ in the overall interests of all lenders, the companies said.

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