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Yes bank to get fresh forensic investigation into its top 10 defaulters

While Yes Bank did not respond to an email query, its chief Prashant Kumar had hinted about a planned approach against defaulters last month.
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21 Sep 2020 1 Mins Read 0 comment
AFP
Mumbai: Yes Bank is looking to conduct an in-depth investigation of its top 10 accounts that have either turned bad or have been declared fraudulent, three people aware of the development said. The private lender is looking to conduct a forensic investigation of a few ADAG Group companies, its exposure to Essel Group, Essar Group and Cox & Kings.
the lenders had roped in PwC and were conducting a forensic investigation in the case. After taking over Cox & Kings following a series of defaults, the lenders had discovered that the company had only ₹8 crore in a fixed deposit. The bankers also found that all computers, laptops and IT systems in the company were wiped clean and locked.
Mumbai: Yes Bank is looking to conduct an in-depth investigation of its top 10 accounts that have either turned bad or have been declared fraudulent, three people aware of the development said. The private lender is looking to conduct a forensic investigation of a few ADAG Group companies, its exposure to Essel Group, Essar Group and Cox & Kings. the lenders had roped in PwC and were conducting a forensic investigation in the case. After taking over Cox & Kings following a series of defaults, the lenders had discovered that the company had only ₹8 crore in a fixed deposit. The bankers also found that all computers, laptops and IT systems in the company were wiped clean and locked.

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