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COMPILER’S NOTE
Clause XI of CARO 2020, requires an auditor to comment on whether any fraud by the company or any fraud on the Company by its officers or employees has been noticed or reported during the year – the said clause also requires to mention whether any report under sub-section (12) of section 143 of the Companies Act has been filed by the auditors in Form ADT-4 as prescribed with the Central Government and whether the auditor has considered whistle-blower complaints, if any, received during the year by the company.
Given below are few instances of reporting by the statutory Auditor on the said clause for the year ended 31st March 2025 and other disclosures, if any, in the Notes and Board’s report.
REPORTING ON CLAUSE XI OF CARO 2020
Motilal Oswal Financial Services Limited
a. We have been informed that one of the employees of the Company had carried out fraudulent act for an amount of ₹1.58 crores. FIR has been filed with the police department; the investigations are in progress and that particular employee has been terminated. The Company has also put a claim with the Insurance Company for the stated amount. In the meantime, the Company has accounted loss of ₹1.58 crores towards t
