Please find update as per the attached disclosure
IVP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
IVP Limited has provided a final update on a confirmed fraud case involving Mr. Ravi Ranjan Jha, a sales employee. The investigation has concluded with the total amount involved confirmed at Rs. 613 lakhs, up from the initially reported Rs. 195 lakhs. The fraud involved misrepresentation and falsification of customer documents. An FIR has been filed with the Byculla Police Station in Mumbai. The company has made full provision for the entire amount in its books and states there is no impact on regular operations. The company has also implemented corrective measures by making the customer onboarding process more robust. The fraud was initially detected on January 12, 2026.
The fraud amount of Rs. 613 lakhs represents a significant financial impact for the company, though it has been fully provided for. The filing of an FIR and the company's corrective actions indicate management is treating this seriously, but the confirmed fraud may negatively impact investor sentiment.