The Securities and Exchange Board of India (Sebi) has hired the services of a chartered accountant and forensic audit firm to probe into the dealings of six mutual fund schemes that were shut down by Franklin Templeton, one of India’s leading asset managers.
The Mumbai-based Chokshi & Chokshi LLP, which advises on tax, accounting, risk, and due diligence among other things, has been given the assignment, sources told ET.
The firm is likely to investigate if there were collusion between the found house and bond-issuing corporates, instances of conflicts of interest of directors or senior officials, and transactions that were prejudicial to the interest of investors in the schemes.
SEBI asked to submit audit report in next 30 days.
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