Catmoss Retail forensic audit by KPMG on SAIF's behalf

Kidswear retailer, Catmoss Retail, reportedly undergoing a forensic audit by auditing firm KPMG at the behest of its investor SAIF Partners, has not filed any financial statements for the financial year 2012 with the registrar of companies (RoC).

According to reports, KPMG is trying to find out any financial irregularities by Catmoss.

According to balance sheet details filed, the company posted a profit after tax of Rs16.2 crore in FY2011 against a loss of Rs8.5 crore for FY2010.

SAIF Partners had picked a 20 per cent stake in the company for Rs100 crore in 2010. Catmoss had a debt of Rs9.20 crore and Rs9.3 crore of other liabilities as on 31 March 2011.

Its management could not be contacted for comments. Calls made to SAIF Partners did not elicit any response.

Catmoss is into manufacturing and retailing of kidswear. Set up in 2004, the company sells its products through 150 exclusive brand outlets, 175 multi-brand outlets and 105 kiosks within large format stores (LFS), information published on SAIF Partners' website said.