NCLT Kolkata dismisses Kanoria application against KPMG forensic report

Sources say tribunal also rejected contempt petition filed by Kanoria after Punjab & Sind Bank declared the account fraud

The Kolkata Bench of the National Company Law Tribunal (NCLT) is learnt to have dismissed applications filed by Srei promoter, Hemant Kanoria, challenging the KPMG forensic report.

Sources close to the lenders and Kanoria said that the main application filed by Kanoria against the KPMG forensic audit and the contempt petition after Punjab & Sind Bank (PSB) declared the account fraud, were both rejected by the tribunal. The order was not uploaded till the time of going to the press.

“Restriction on classification by PSB continues basis Delhi HC stay. We are evaluating the order and would be firming up