<h1>Swastik Pipe Limited Appoints Forensic Auditor following NPA Classification by State Bank of India</h1>
Swastik Pipe Limited has engaged a Chartered Accountant firm to conduct a forensic audit of its accounts and transactions, following an account classification as a Non-Performing Asset (NPA) in January 2026. The appointment was initiated by the State Bank of India (SBI), which is the lead bank in the consortium involved with the company.
The forensic audit involves a fact-finding review covering the past six financial years of the company's operations. SBI intimated the appointment of M/S Pawan Puri & Associates to conduct the comprehensive audit and review.
The audit pertains to fund-based and non-fund-based credit facilities provided to Swastik Pipe Limited, which collectively aggregate to approximately ₹140 Crores. The purpose of the forensic audit is to investigate the circumstances leading up to the classification as an NPA.
Details regarding the audit assignment have been outlined as follows:
| Particulars | Details |
|---|---|
| Name of Entity Initiating Audit | State Bank of India (on behalf of SBI Consortium) |
| Total Credit Exposure Involved | Fund-based and Non-fund-based credit facilities amounting to ₹140 Crores |
| Forensic Auditor Appointed | M/S Pawan Puri & Associates |
| Period Covered by Audit | Past 6 Financial Years |
| Reason for Initiation | Fact-finding review after account classification as a Non-Performing Asset (NPA) in January 2026 |
The company's operational impact will be assessed subsequent to the receipt of the final Forensic Audit Report.
SWASTIK Stock Price Movement
Shares of Swastik Pipe Limited today settled at ₹15.3, trading in line with its previous close. The stock saw 4,800 shares traded during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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