Enviro Infra Engineers Limited has informed the Exchange about Fraud/Default/Arrest
EIEL · price
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Enviro Infra Engineers has disclosed a cyber fraud where ₹11.15 crore was fraudulently transferred out of the company's bank accounts by someone impersonating a Director. So far, the company has recovered about ₹2.50 crore, leaving a net financial impact of around ₹8.65 crore. The matter is being actively investigated by Cyber Crime authorities. As a goodwill gesture, the Executive Directors have voluntarily chosen to give up their salaries until the full loss is made up. The company has also tightened its internal banking controls and is running employee awareness sessions on cyber fraud risks.
This is a material negative event — roughly ₹8.65 crore of shareholder value remains at risk pending recovery. Short-term stock sentiment may be weak, but management's response (salary sacrifice, stronger controls, cooperation with investigators) signals accountability and may limit long-term damage if recoveries continue.