MUMBAI: As potential bidders queue up for buying companies under dedicated bankruptcy proceedings, insolvency professionals are roping in forensic investigators to scrutinise past transactions of customers, group companies, and financial and operational creditors.
There are concerns that some of the past transactions could be fraudulent, and that the authenticity of claims by creditors may be dubious. Large transactions, such as purchase of machinery, land and other assets, and payments to be made to creditors, vendors and suppliers, are under the lens.
Investigators are also scrutinising payments made, or to be made, by customers in the past as some of these have become bad debts. Forensic investigations have been initiated …
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