KPMG finds all allegations to be baseless: Viom Networks

KPMG has given a clean chit to the Kanorias in the alleged financial irregularities in VIOM Networks by the former company secretary. In an interview to CNBC-TV18, Sunil Kanoria, director of Viom Networks spoke about the issues related to the recent allegations.

Here is the edited transcript of his interview. Also watch the accompanying video. Q: What were the findings of the KPMG audit report with respect to the allegation in financial irregularity by the company secretary?
A: KPMG has made the presentation and there are no issue. The allegation was not the Kanorias, but was more on the chief executive officer. The media created a different perception completely. Q: Is the matter completely closed or will there be another agency probing into this?
A: The KPMG was appointed by the board. We initiated the process of audit, which is over. They made a presentation to the board. As we envisaged, all the allegations were found to be baseless. Therefore, we have closed the process. Q: There has been no irregularity with respect to two things a) allegations of diversion of Rs 300 crore to private company and b) VIOM financials are materially untrue.
A: Absolutely. All these allegations were baseless. Most of what was reported by the media was completely wrong. Some of the allegations were not there at all. All the allegations were investigated and found to be baseless.