TARC shares nosedived 10% on Tuesday, closing at ₹189.55 on the BSE, after SEBI ordered a forensic audit of the company’s financials for FY21 to FY23. This dramatic drop came hot on the heels of TARC’s exchange filing, where it disclosed receiving SEBI’s letter on Monday. The market regulator suspects that TARC’s handling of financial disclosures and transactions might have been detrimental to investors or the securities markets. TARC responded by pledging full cooperation with the audit and expressed confidence that the findings wouldn’t derail its growth trajectory or long-term value. In the latest quarter, TARC reported a staggering net loss of ₹67.36 crore, a stark reversal from the ₹1.06 crore profit in the same period last year. Despite these setbacks, TARC has delivered significant returns over the long term—up 42% in the past year.