Jayant Gokhale’s explosive resignation letter and the INR 1,200 crore risk in PFS’s loan book
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From left, former independent directors Jayant Gokhale, SS Mundra, Sushma Nath and Preeti Saran with Pawan Singh, managing director and CEO, PFS
Synopsis
Of the 35 accounts analysed, the forensic auditor of the company found evidence of evergreening and other irregularities in 15. While the published report had redacted the names of these irregular accounts, ET Prime has dug them out.
Jayant Gokhale was chairing the meeting of the audit committee of PTC India Financial Services (PFS) in the forenoon session on November 13, 2022. Gokhale had informed the company in advance that he was busy in the afternoon as he had a family wedding to attend. Even as Gokhale was busy going through the numbers, Mohit Seth, the acting company secretary, issued a notice at 11.38 am for a board meeting to be held at 12 noon. On the agenda was to
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