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Forensic audit of specific transactions progressing as per SBI: Jet Airways

SBI, the lead banker to the airlines' over Rs 80 billion loans, has mandated EY to conduct the forensic audit of its books

Press Trust of India  |  New Delhi 

Jet Airways

Troubled carrier said Monday that a of specific transactions is being carried out following directions from (SBI).

The full service airline is grappling with financial woes and is looking to raise funds.

"As per the directions of State Bank of India, a of specific transactions of the company for the period April 1, 2014 to March 31, 2018 is in progress.

"The company is fully cooperating with the auditors and providing them all the information, as is being sought in this connection," said in a regulatory filing.

SBI, the to the airlines' over Rs 80 billion loans, has mandated EY to conduct the of its books, sources said last week.

The airline has been in the red for three consecutive quarters.

Sources had said the audit was ordered following a complaint of alleged financial irregularities in accounts by a whistleblower.

In August, the government had ordered an inspection of books and papers of the airline.

Last month, chief executive officer said the airline was in active discussions with various investors to secure sustainable financing.

First Published: Mon, December 17 2018. 22:00 IST
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