Vivimed Labs Declines After Lender SBI Initiates Forensic Audit

Shares of Vivimed Labs fall after the maker of specialty chemicals says lender State Bank of India has initiated a forensic audit following the company’s proposal to restructure its debt.

• Shares fall as much as 4.5%, set for 4th day of decline
• Vivimed Labs says it’s mandatory for lenders to conduct a forensic audit
• Co. has strong internal controls and an effective audit system, according to a statement filed on local stock exchanges

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