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Oswal Green Tech Ltd is engaged in trading and development of real estate projects. It also lends its surplus funds as interest bearing inter-corporate deposits.
Oswal Greentech is establishing a new subsidiary in Dubai, UAE, to venture into real estate development. The initial investment for this international expansion is AED 40 Million. The company's internal auditor also resigned due to personal reasons.
Oswal Greentech's annual results received a modified audit opinion. Key qualifications cite 1,226.77 Cr unconfirmed advances and a 374.95 Cr arbitration shortfall. A 101.22 Cr provision for doubtful ICDs led to a loss. Company also faces a 14.58 Cr estimated impact from alleged fraudulent property acts.