No adverse findings in forensic report, say Anil Ambani's companies

Reliance Commercial Finance said the forensic report has confirmed the potential group entities' exposure through several intermediate unlisted entities at Rs 4,427.74 crore

Reliance Commercial Finance and Reliance Housing Finance have said forensic auditor, Grant Thornton, has not recorded any adverse findings on 11 parameters, including diversion and siphoning off of funds, and embezzlement. Both entities are part of Anil Ambani-controlled Reliance Capital. 

As part of the debt resolution process, the company’s lenders appointed Grant Thornton for the audit in August 2019, as required by the Reserve Bank of India (RBI) guidelines.

Reliance Commercial Finance said in a statement that the forensic report has confirmed the potential group entities’ exposure through several intermediate unlisted entities at Rs 4,427.74 crore (including interest). This, the company had