Winsome's lenders begin groundwork to recover loan

With the doors closed for recasting loans to Winsome Diamonds and Jewellery under the corporate debt restructuring (CDR) window, lenders have begun the ground work to recover their dues. To add to their discomfiture, lenders have found the forensic report of Kroll Advisory Solutions Ltd, which was commissioned to conduct an investigative audit, to be of "poor quality". 

According to the lenders, Kroll's report was based on "hearsay and market intelligence", and not backed by corroborative facts. The lenders have sought answers from Kroll, said the chief of large public sector bank. Winsome denied charges of money siphoning. In a communication to the Bombay Stock Exchanges, it said none of the specific points and observations in the reports of Ernst & Young and Kroll suggest that it indulged in siphoning of funds.

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