Oswal Greentech Limited has informed the Exchange about Frauds/Default by employees
OSWALGREEN · price
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Oswal Greentech Limited's Board meeting on May 26, 2026 approved annual audited financial results showing a net loss of Rs. 6,241.86 Lakhs for FY26 versus a profit of Rs. 853.21 Lakhs in FY25. The company reported an exceptional item of Rs. 10,122.19 Lakhs due to full provisioning of Rs. 74.22 Crores ICD and Rs. 27 Crores real estate advance given uncertainty over recovery. The auditors issued a qualified opinion due to unconfirmed ICDs/advances of Rs. 1,22,676.83 Lakhs and a partially unfavorable arbitration award of Rs. 9,717 Lakhs against a claim of Rs. 47,212.27 Lakhs. Separately, the company identified alleged fraudulent conduct by Mr. Vishnu Prasad Muddana (former CFO of group company) involving unauthorized acts related to a property transaction at Rishra Village, West Bengal, with estimated impact of Rs. 14.58 Crores. A criminal complaint has been filed and legal proceedings initiated.
The company faces dual pressures: a large loss driven by provisions and an ongoing fraud matter involving Rs. 14.58 Crores. The modified audit opinion and unconfirmed advances totaling over Rs. 1,226 Crores raise concerns about asset quality and governance. Shareholders should monitor recovery efforts and legal outcomes.