J.Kumar Infra plunges 20% on forensic audit orders from Sebi

Shares of J.Kumar Infra Projects plunged 20% in the late morning session on Monday as the Securities Board of India (SEBI) has directed the company to appoint an independent auditor for forensic audit. The company has been figured among the 331 suspected shell companies. As per the market regulators’ order, an independent auditor will verify misrepresentation, including financials and business activities of J.Kumar, and also look into the role of key management personnel, directors and promoters.

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