Market regulator Sebi has pulled up Prabhat Dairy for not cooperating with the Sebi-appointed forensic auditor Grant Thornton and has directed the company to provide all the demanded documents without any delay. Prabhat Dairy had sold its dairy business for INR 17,000 million to French multinational Groupe Lactalis in April last year and was accused by some investors of diverting the proceeds instead of distributing it among shareholders. The company has shown INR 3,250 million of cash on hand as on March 31, 2020, a record of sorts for Indian corporates. The company last week announced its results for the year ended March 30, 2020, reporting a net loss of INR 1,090 million on a turnover of INR 5,330 million. Sebi in July hired Grant Thornton to conduct a forensic audit of Prabhat Dairy's books for the last two fiscal years after some investors complained to the regulator that the company had not properly shown the sale proceeds on the balance sheet, allegedly to keep the book value low so that its shares could be delisted at a much lower price than the actual value, said people aware of the development. The company has also applied for a timeline extension on the delisting vote. Investors expected a huge dividend, but the company, after almost six months, announced delisting plans in September last year. Since then, the delisting proposal has been stuck at the approval levels and the money has also not been distributed. Sebi has made it clear that it will allow delisting only after completing the forensic audit.