Anand Rathi Share and Stock Brokers Limited has appointed Ernst & Young LLP (EY) to conduct a forensic audit following suspected fraudulent activities in depository operations. The audit aims to independently examine off-market share transfers worth approximately Rs. 13 crores from a Pune-based client’s Demat account.
Anand Rathi Share and Stock Brokers Limited has formally announced the initiation of a forensic audit, appointing Ernst & Young LLP (EY) as the independent auditor. This step follows the company’s earlier disclosure on February 06, 2026, regarding suspected fraudulent activities in its depository operations.
Key Highlights
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Appointment of Ernst & Young LLP (EY) as the forensic auditor effective March 06, 2026
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Audit focuses on depository activities, not broking operations
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Investigation linked to offences including fraud, cheating, and fabrication of documents/electronic records
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Case involves off-market transfers of shares worth approximately Rs. 13 crores from a Pune-based client’s Demat account
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Disclosure made under SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, ensuring transparency and compliance
This forensic audit underscores the company’s commitment to regulatory compliance and investor protection, while reinforcing its proactive stance in addressing financial irregularities.
Source: Anand Rathi Share and Stock Brokers Limited's Stock Exchange Disclosure