Swiggy's Financials Under Discrepancy Cloud Over Investor Buyback Rights In KPMG Audit Report
India, Jan. 29 -- Even as the Indian government looks to lessen the burden of compliance and regulation on startups through various laws and schemes, a new report has thrown light on how tricky the web of regulations can be for even established startups. Food delivery unicorn Swiggy has been handed a "qualified opinion" by audit giant KPMG for its accounting practices.
According to a Moneycontrol report, KPMG has reported some discrepancies in Swiggy's accounting practices since the auditing company has concerns about how the company has reported certain items on its books, which are contrary to Indian law and the Indian Accounting Standards (Ind-AS), which was introduced in 2015-16. The auditor had evaluated Swiggy's parent company Bund...
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