The Serious Frauds Office is believed to have submitted its first report to Department of Company Affairs on completing a probe into trouble...
New Delhi |
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The Serious Frauds Office is believed to have submitted its first report to Department of Company Affairs on completing a probe into troubled car maker Daewoo Motors’ alleged financial mismanagement involving about Rs 1,000 crore. Dca had ordered a probe into the alleged financial irregularities under Section 235 of the Companies Act and referred it to the sfio in October last year.
While confirming that the sfio has submitted its report to dca secretary M.M.K. Sardana, sources said Indian fis alone have an exposure of about Rs 1,000 crore in the beleaguered car maker, which has been declared sick. (PTI)
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