 "Shantanu Prakash, founder Educomp")
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 several counts, finally giving an adverse opinion. In its report, the
