Aster DM Healthcare Enlists Grant Thornton To Investigate Misconduct Claims

Aster DM Healthcare Ltd. will conduct an "independent fact-finding" review on allegations of misconduct by senior employees by enlisting the services of Grant Thornton Bharat LLP, according to an exchange filing on Monday.

This audit was prompted by a complaint by an anonymous whistleblower who claimed senior members of the company were guilty of professional misconduct and some unethical practices. The company had disclosed this in an exchange filing on May 28.

There was a "breach of conflict of interest policy" by certain employees, which included failure to disclose interest in or relationships with certain vendors of Aster, according to the initial filing.

This took place in fiscal 2024, the company said.

This alleged fraud involved the vice president of the company, along with the head of projects and regional head of finance, at that time. It was estimated to have been for an amount of Rs 25 lakh.

The company reported that the concerned employees would be subject to disciplinary proceedings and that they have also formally apologised to the company and said that the lapses were due to oversight on their part. The relevant transactions resulting in the conflict of interest were being wound up, they said.

"The company has defined measures to strengthen its internal control systems. Adequate changes to the functional reporting structure will be put in place. The company will conduct training sessions for employees on the code of conduct and conflict of interest policy of the company," the filing said.

Shares of Aster DM Healthcare closed down 0.58% at Rs 337.10 apiece, compared to a 0.35% rise in the NSE Nifty 50.