Sebi pulls up Prabhat Dairy for not co-operating with forensic auditor

Sebi has directed Prabhat Dairy to despoist Rs 1,292 crore in an escrow bank account

Market regulator Sebi on Tuesday directed Prabhat Dairy to despoist Rs 1,292 crore in an escrow bank account and pulled up the company for not cooperating with forensic auditor Grant Thornton.
 

“Given that the facts clearly make out a prima facie case of non–cooperation by the company and its promoters/directors, I am of the considered view that the non–interference by the regulator at this stage would result in irreparable injury to interests of the securities market and the investors,” Sebi said in an order.
 

In July 2020, Sebi had appointed Grant Thornton to conduct a forensic audit of Prabhat Dairy