The banks in India are looking to trace the use of loans. A forensic audit of Alok Industries will also be carried out by the lenders such as Grant Thornton and Chokshi & Chokshi, led by State Bank of India.
A senior banker told ET that
An employee of the PR firm hired by Deloitte told ET, "As per our consistent policy, Deloitte does not comment on client confidential matters."
Surendra Jiwrajka, an executive director at Alok, told ET, "The reason for Deloitte's resignation was purely commercial in nature. The banks have never asked us for even a clarification thus far in this regard. There has never been any such mention in our accounts till date either. Besides, no auditor would take up the assignment if there were to be the existence of such a lacuna in the balance-sheet and even banks would not have supported us all the way they have so far."