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Markets regulator Sebi today ordered a forensic audit against Nu Tek India Ltd (NTIL), which is among the list of 331 suspected shell firms, after prima facie concluding that it has misrepresented books of accounts.
At the same time, the watchdog has lifted the trading curbs imposed on the company in August.
Nu Tek was in the list of 331 suspected shell companies that was provided by the corporate affairs ministry to Sebi, following which action was initiated against them.
In recent weeks, Sebi has revoked the curbs on many such firms.
"In view of the prima facie observations on misrepresentation of books of accounts by the company and the misuse of books of accounts/ funds by the company, the persons who are in control of the company and the directors of the company are prima facie liable for action by Sebi," it said.
They should not be permitted to exit the company at the cost of innocent shareholders, the order noted.
The company has been given 30 days time to file its reply or objections to the interim order.