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SEBI refuses to grant stay on forensic audit of Inter Globe Finance

The Securities and Exchange Board of India (SEBI) has refused to grant a stay on the forensic audit of Inter Globe Finance, which is suspected to be a shell company.

Earlier, SEBI had directed the stock exchanges to appoint a forensic auditor to verify any misrepresentation of financials and business of Inter Globe Finance and its subsidiaries as well as any misuse of the books of accounts.

Inter Globe Finance Ltd is a Non-Banking Financial Company (NBFC) which is engaged in financial activity and deals in small and medium term investments.

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