Financialfactfinder blog’s rejoinder is weak and seems to refute not the facts but the conclusions. In general the refutation is weak.
For instance it quotes Bhajrangi Bhaijan’s 500 cr grosser from a third party source. We do not know the veracity of this figure, how much of this was accrued and when was it realized.
Similarly it points out that Grant Thornton is the auditor for Eros Intl. which is reputed in their view. But it fails to address the fact that substantially material transactions happen in the subsidiaries which Grant Thornton does not audit. And yes an auditor having a gmail address, apartment like address and with little staff is more likely suspect than not.
On related party transactions the Financialfactfinder just says that because Eros has said that all transactions are at arm’s length and disclosed, they are. Facts put out by alphaexposure give instances to the contrary like an unexplained bankguarantee to a related entity for instance.
In a book called Spy the Lie by ex-CIA officer /s, the authors offer clues on how to know if someone is saying the truth. He says (not verbatim) that when facts are not your ally you are forced to answer a factual question indirectly. For instance, if you ask a suspect if he killed X, a killer would say, ‘Do you think I look like one?’, whereas others would just say no!
Overall Financialfactfinder uses this tactic at almost places where it tries to address facts. Its refuge is to say that what has been done is within the law and the rules. That is almost always the refuge for any one because democratic law always holds anyone innocent unless proven guilty by due process of law.
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