SREI Equipment Finance Ltd.’s transaction auditor BDO India identified more fraudulent transactions of 169.72 crore rupees ($20.81 million) in the company as on 30 September 2021.

BDO India unearthed loan disbursements to Prasandi Infotech Private Ltd. by the company under former management, the bankrupt non-bank lender said in a stock exchange announcement. The transactions occurred between FY11 and FY21, it added.

The company, a material subsidiary of SREI Infrastructure Finance Ltd., said the total impact of the transactions, excluding interest, amounts to 169.72 crore rupees.

SREI Equipment said its administrator on 16 January filed an application in the matter before the Kolkata bench of the National Company Law Tribunal (NCLT) against Prasandi, as well as SREI founders Hemant Kanoria and Sunil Kanoria. The application filed before the NCLT is presently pending consideration, it noted.

BDO India has found several fraudulent transactions in the Kolkata-based company, including about 453.09 crore rupees last week.

(Note: $1 = 81.5488 Indian rupees)