Corporate News     15-Nov-23
Aster DM Healthcare to initiate forensic investigation for its subsidiary - Wahat Al Aman Home Healthcare
Aster DM Healthcare announced that following receipt of a confidential complaint relating to Wahat Al Aman Home Healthcare LLC (Wahat), an overseas subsidiary of the Company, a forensic investigation is to be initiated by the Company. The complaint alleges that certain employees of Wahat have engaged in forgery and fraud resulting in irregularities in revenue recognition by Wahat and trade receivable balances.

The Company has recognised a full provision against the trade receivables balance of Rs 54.62 crore since it is in the process of compiling and evaluating evidence to establish recoverability of these receivables. On completion of the investigations, the Company will reassess if any further adjustments and disclosures are required.

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