Govt to probe HDIL accounts, report in 2 months

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Govt to probe HDIL accounts, report in 2 months

Oct 02, 2019 13:51 IST

The Ministry of Corporate Affairs or MCA will reportedly probe the books of accounts of real estate firm HDIL, after loans to the company brought PMC Bank down. The Ministry will examine regulatory filings, financial statements and related-party transactions. The probe was initiated after the Reserve Bank found that PMC Bank had total exposure of 73 percent to HDIL. Findings from the probe will be submitted in two months.