Professor Elam

Wed Oct 6 2021

Named in Magma case, KPMG ousts partner [Times of India] From last week: “Days after managing director Abhay Bhutada quit following the Sebi action on insider trading in erstwhile Magma Fincorp shares, KPMG India on Monday terminated the services of one of its partners, Saumil Shah. The move came after Shah was named in the Sebi investigation into the insider trading at Magma, now renamed Poonawalla Fincorp after it was taken over. Chairman Adar Poonawalla has said that the company is carrying out an independent investigation too into the recent events that led to the exit of Bhutada.”