Tuesday, December 18, 2018

Jet Airways says forensic audit of specific transactions progressing after SBI directions

New Delhi:  Troubled carrier Jet Airways said Monday that a forensic audit of specific transactions is being carried out following directions from State Bank of India (SBI).
The full service airline is grappling with financial woes and is looking to raise funds.

"As per the directions of State Bank of India, a forensic audit of specific transactions of the company for the period April 1, 2014 to March 31, 2018 is in progress.

"The company is fully cooperating with the auditors and providing them all the information, as is being sought in this connection," Jet Airways said in a regulatory filing.

SBI, the lead banker to the airlines' over Rs 8,000 crore loans, has mandated EY to conduct the forensic audit of its books, sources said last week.

The airline has been in the red for three consecutive quarters.
17/12/18 PTI/Times of India

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