In a new twist in the tussle between Lilliput Kidswear promoter Sanjeev Narula and investors Bain Capital and TPG, the Delhi High Court-appointed auditor, SS Kothari Mehta & Co, has expressed inability to complete the court-directed audit. The auditor's withdrawal could have a significant bearing on the sale of the business initiated by all shareholders. The auditor has cited the company’s non-cooperation in the audit as the reason. The auditor's report had been allowed to be inspected by the investors, promoter and the company. Narula declined to comment on the issue. The spokesperson of Bain Capital also declined to comment.
Source: Business Standard
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