To avoid ratings cut, ITNL did not list ₹2,570 cr loans as contingency liabilities: Audit Report - Business News: Latest Share Market , Economy & Finance News | Trendmergers

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To avoid ratings cut, ITNL did not list ₹2,570 cr loans as contingency liabilities: Audit Report

These loans issued to third parties, who were also vendors to ITNL, didn’t follow required standard operating procedures (SOPs), or any formal policy or protocol regarding approval from the board of directors or committee of disputes (COD) — increasing the risk exposure of the company, it said.

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