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Edelweiss Financial Services shares locked in lower circuit on whistleblower complaint

Sumary of Edelweiss Financial Services shares locked in lower circuit on whistleblower complaint:

  • Representative image Edelweiss Financial Services share price was locked at 5 percent lower circuit on March 18 after the Ministry of Corporate Affairs (MCA) ordered an inspection of the books of Edelweiss Asset Reconstruction Co (EARC)…
  • The whistleblower—Paras Kuhad, a former additional solicitor general of India—has alleged that Edelweiss Group, the controlling shareholder of the asset reconstruction company along with its partner Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ), diverted at least Rs 1,800 crore from EARC…
  • It is only the first step of a process in which an investigating officer records statements of company officials…….

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