Suspect transactions of debt-ridden Educomp Solutions have come under the lens of Serious Fraud Investigation Office (SFIO), which is probing the company for alleged fund-diversion and inflated land deals, people in the know of the development said. SFIO has identified at least two land transactions done by Educomp by allegedly using proxies at over-inflated prices, it is learnt.
Founded by Shantanu Prakash, Educomp filed for bankruptcy in 2017 after debt piled up to Rs 3,000 crore. Statutory auditor Haribhakti & Co had raised concerns about the company’s financials on ...
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