ASIC Leighton probe widened: report

Watchdog reportedly investigating conduct of construction group's Indian business.

The Australian Securities and Investments Commission has broadened the scope of its inquiry into Leighton Holdings (LEI) to include suspect commissions and alleged corporate misconduct in India, The Australian Financial Review reports.

According to the newspaper, the corporate watchdog is looking into the group's dealings with Indian construction firm Welspun, specifically its disclosure, which purchased a 35% stake in Leighton India’s operations in 2010.

It is reported ASIC this month requested documents from Leighton staff that allegedly have to do with a new line of inquiry that will probe potential corporate offences related to Leighton's dealings with Welspun.

ASIC has reportedly uncovered evidence that senior executives had expressed concern about a perceived failure to disclose "material" financial information regarding the deal, the AFR reports.

A multi-million dollar payment to an Indian steel firm is also reportedly under scrutiny.

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