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Vascon Engineers slips 9% on revealed audit flaws

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SI Reporter Mumbai
Last Updated : Jan 20 2013 | 2:43 AM IST

Vascon Engineers has slipped 9% to Rs 38.50 on revealing misappropriation of funds.

"Recently our internal audit revealed that there has been some misappropriation of funds,” a realty firm said in a filing to the stock exchanges.

"As company believes in complete transparency, we have immediately altered the police who are currently investigating the matter. We will be in a position to share specific details only once the investigation is complete". it added.

The trading volumes on the counter jumped multiple folds, with a combined 170,139 shares have already changed hands till 1221 hours, against an average 15,000 shares that were traded daily in past two weeks.

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First Published: Nov 28 2011 | 12:46 PM IST

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