Former CSO linked to fraud; FIR filed, around Rs 2 crore alleged gain
ARKADE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Arkade Developers disclosed fraud by former Chief Sales Officer Amita Singh. Allegations include diversion of customer transactions through broker entities, wrongful gain via brokerage and vendor deals, and forging a Director's signature on car parking sale agreements. FIR registered at Samata Nagar Police Station. Alleged wrongful gain estimated around Rs 2 crore. Employee terminated on 17 June 2026. Company strengthened internal controls and says no material adverse impact on business or financials.
Possible short-term negative sentiment. Company states no material impact; monitor investigation outcome and any further disclosures.