SEBI Appoints Forensic Auditor to Review Tarc Financial Statements

Securities and Exchange Board of India (SEBI) on Monday appointed a forensic auditor with respect to financial statements of Tarc, a luxury housing developer, for Financial Years 2020-2I to 2022-23. SEBI believes that the disclosure of financial information and business transactions of the Company have been dealt with in a manner which may be detrimental to the interest of investors or the securities markets; and/or an intermediary or a person associated with the securities market, Tarc said in an exchange filing. The company said that it will all necessary information, assistance and cooperation in this regard and shall inform the exchanges of any further developments in the matter. The company remains committed to maintaining the highest standards of corporate governance, ensuring that all processes are conducted with integrity and transparency, the statement added. Further, the company said that it would not impact on financial, operational or other strategic objectives. It will also not impact the strong growth trajectory and long-term value, Tarc added.