If the audit finds {that a} financial institution or monetary establishment knowingly facilitated transactions that violated judicial orders, the Court docket stated it might decide its legal responsibility and subject instructions to neutralise the impact of these transactions.
The auditor will look at the creation and invocation of pledges, top-up securities, gross sales and transfers of FHL shares from Might 24, 2016, when the primary assurance was given. It can additionally hint the consideration obtained from the shares and scrutinise the acquisition of a controlling stake in FHL by IHH Healthcare Berhad by way of Northern TK Enterprise.
The function of FHL’s administrators, officers, key managerial personnel, compliance officers, depositories and different intermediaries can even be examined.
Daiichi had initially sought an audit of 17 banks and monetary establishments. It later restricted the request to a few banks earlier than informing the Court docket that it was not looking for audit of any financial institution. Nonetheless, the Court docket termed this variation of place immaterial and ordered scrutiny of all banks and monetary establishments concerned within the transactions.
