Bloomberg India’s ministry of corporate affairs has ordered an inspection of Vakrangee Ltd.’s books for three financial years, five months after Price Waterhouse resigned as the firm’s auditor. The process will include scrutiny of the auditor’s resignation, Vakrangee’s tax filings in the past five years, the number of outlets across India through which it provides financial services, and its shareholding ...

Bloomberg The collapse of Skye Bank Plc is darkening the outlook for Nigeria’s other small lenders struggling to recover from the economy’s contraction two years ago, and threatening to derail the regulator’s ambitions of expanding the industry. The Central Bank of Nigeria revoked the lender’s license for failing to meet capital and liquidity thresholds since the authorities first intervened to ...

Bloomberg India’s troubled shadow bank Infrastructure Leasing & Financial Services Ltd., whose recent debt defaults sparked concern about contagion in the nation’s financial markets, has sought shareholder’s approval for a plan to revive the firm at the company’s annual general meeting on Saturday. The management aims to bring the group back to normalcy by selling shares through a rights issue, ...