Viom Networks, a venture between Tata Teleservices and SREI Group enterprise Quippo, has appointed KPMG to assess the extent of the graft, if any, after a former company secretary alleged that the Kanorias of the Srei Group diverted funds to the tune of Rs 300 crore to some private institutions.
Speaking to CNBC-TV18, Hemant Kanoria, director of Viom and CMD of SREI said, the former company secretary has made the allegations to get back at the firm for firing him. Kanoria said KPMG will determine whether the allegations are true. "We have ordered audit in lieu of corporate governance," he said adding, "auditors will submit the report in four to six weeks." Shares of SREI were under pressure in early morning trade at Rs 33.25, down 12%. Q: We are just asking you to react to these allegations that you have colluded with the CEO to siphon off money from the company thatDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
