India probes L&T's employee welfare arm for alleged fraud

The Registrar of Companies has issued a notice to two companies -- LandT Welfare Co Ltd. and L&T Employees Welfare Foundation -- seeking their response

India is inspecting accounts of L&T Employees Welfare Foundation Pvt Ltd, a unit of Larsen & Toubro, for allegations of cheating and misappropriation of funds, people with knowledge of the matter said.

The Registrar of Companies (RoC) has issued a notice to two companies -- LandT Welfare Co Ltd and L&T Employees Welfare Foundation -- seeking their response, and a report is expected by the end of September, the people said, asking not to be identified as the matter is not public.

The inspection was ordered after an internal inquiry into the allegations made a case for the probe.

The probe follows complaints