“Our operational resilience and financial stability remains strong, and the appointment of the forensic auditor does not impact our strategic plans. Together as a team, we continue to build on the values that define TARC’s journey while extending our full cooperation to SEBI and the forensic auditors,” said Amar Sarin, MD & CEO, TARC Ltd.

TARC said it remains on track on the development and launch of luxury residential projects across Delhi and Gurugram.

“With robust demand for luxury housing in these regions, the company is well-positioned to capitalize on emerging opportunities. At the same time, TARC continues to strengthen its financial stability through efficient project execution and timely delivery supported by strong cash flows from ongoing and upcoming developments,” the company said in a statement.