Please find enclosed the Forensic Audit Report.
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Calcom Vision Ltd has submitted its Forensic Audit Report to BSE, conducted by M/s Shanti Prashad & Co. covering the period July 2023 to December 2024. The audit confirmed that Mr. Ashutosh Dubey, a former employee who served as Manager – Accounts & Finance and Internal Auditor, siphoned off Rs 2.31 crore from the company's bank accounts. The fraud was executed by recording payments in the books as made to genuine vendors, while the actual funds were routed electronically to his own and his relatives' bank accounts, exploiting a banking loophole where IFSC code and account number (not beneficiary name) drive transfers. Beneficiaries identified include Mr. Ashutosh Dubey, his relatives Manoranjan Kumar Dubey and Roushni Dubey, and associates Nilesh Kumar Tiwari and Sachidanand Tiwari. The forensic auditors have recommended stricter internal controls, including daily bank statement review, director-level payment approvals, segregation of duties between payment processing and bookkeeping, and tighter ERP access rights.
This is a negative disclosure for shareholders, confirming a significant internal fraud of Rs 2.31 crore by a trusted employee who also served as Internal Auditor — raising serious questions about past oversight and internal controls. The stock may face short-term pressure and the company will likely pursue legal recovery, but the relatively contained size of the fraud (versus company scale) and corrective steps recommended may limit longer-term damage.