GMR Group Didn’t Write Down Rs 2,250-Crore Investments Despite Auditor’s Red Flag


GMR Group Didn’t Write Down Rs 2,250-Crore Investments Despite Auditor’s Red Flag

The auditor to GMR Infrastructure Ltd. said that its power sector loss would have been Rs 2,250 crore higher in the nine months ended December had it accounted for the reduced value of its investments.

SRBC & Associates LLP, the audit arm of EY, based its qualified opinion on a valuation report submitted by external experts, according to the auditor’s statutory limited review of the third-quarter earnings. The company didn’t disclose who commissioned or prepared the valuation report. Read More

Leave a Reply

Your email address will not be published.