Rs. 20 crore fraud deteceted at Insecticides India Ltd

Date:07-08-2020

Insecticides India Ltd has announced that Zonal and Territory Manager (Chhattisgarh) of the Company along with 16 Distributors & Dealers has found to be indulged in commission of breach of trust, criminal misappropriation & fraud over a period of time, thereby causing severe loss and injury to the Company.

The estimated amount is approx. Rs. 20.00 Crores. The company has filed complaint with the Superintendent of Police. The Company would render necessary assistance to the police in investigation of the matter and further material details, will be intimated to the exchange promptly.

Shares of INSECTICIDES (INDIA) LTD. was last trading in BSE at Rs.430.25 as compared to the previous close of Rs. 434.6. The total number of shares traded during the day was 7350 in over 815 trades.

The stock hit an intraday high of Rs. 443.3 and intraday low of 428. The net turnover during the day was Rs. 3189693.