A2Z Infra Engineering Limited has informed the Exchange about Fraud/Default/Arrest
A2ZINFRA · price
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On the reaction day the stock moved 2.6 pts less than Nifty Microcap 250 and 1.9 pts less than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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A2Z Infra Engineering Limited has disclosed that Mr. Amit Mittal, its Managing Director, CEO, and Promoter, was taken into judicial custody by the Economic Offence Wing-Anti Corruption Bureau (EOW-ACB), Chhattisgarh on May 13, 2026. The custody relates to an investigation into alleged irregularities concerning contracts for supply of manpower with Chhattisgarh State Marketing Corporation Limited during FY 2019-20 to FY 2023-24. The Company clarifies that Mr. Amit Mittal has not been named in the FIR and claims the detention is prima facie illegal, with legal remedies being pursued to challenge the action. The Company states the contracts were handled by a representative of its material subsidiary without Mr. Mittal's knowledge. The estimated financial impact is marked as Not Applicable.
This is a significant negative development as the arrest of the MD and Promoter raises governance concerns and could impact investor confidence, though the Company denies any direct involvement and says there is no financial impact at this stage.