Edelweiss Financial Services shares locked in 5% lower circuit

The financial services company's stock has corrected 13 per cent from its 52-week high level of Rs 91.70, touched on Tuesday, March 16

Shares of Edelweiss Financial Services, on Thursday, were locked in 5 per cent lower circuit at Rs 80.20 on the BSE on reports that the Ministry of Corporate Affairs (MCA) has ordered an inspection of the books of Edelweiss Asset Reconstruction Co (EARC).

The BSE said that "the Exchange has sought clarification from Edelweiss Financial Services on March 18, 2021, with reference to a news appeared in www.moneycontrol.com dated March 18, 2021 quoting "MCA orders inspection of Edelweiss Asset Reconstruction Company's books after whistleblower complaint to PMO". The reply is awaited."

According to the news report, the whistleblower