Info Edge (India), a company that owns Allcheckdeals India (AIPL), has announced that it is launching a forensic audit into the operations of 4B Networks. This audit will be carried out by Deloitte Touche Tohmatsu India LLP, with assistance from Saraf and Partners Law Offices. AIPL has invested over Rs 288 crore into 4B Networks, and as of now, these investments are fully impaired due to excessive cash burn, liquidity issues, and doubts about financing possibilities. AIPL has repeatedly requested information about the transactions and financial details of 4B Networks but has received no response. Hence, it has decided to exercise its contractual rights to initiate the forensic audit. The audit will examine the real estate-focused business’s operations and its use of its loan origination and broker network platforms.
Info Edge India begins forensic audit of 4B Networks.
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