Rashi Peripherals Limited has informed the Exchange about Action(s) taken or orders passed
RPTECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
A customer, Mr. Hitesh Mehta of M/s. Vinayak Infosolutions, has filed a chargesheet against Rashi Peripherals and a few of its Directors (including two Independent Directors) under Sections 420 (cheating) and 34 (common intention) of the Indian Penal Code before the Metropolitan Magistrate Court in Mumbai. The Company received the certified copy of the chargesheet on April 30, 2025. Rashi Peripherals has strongly denied the allegations as baseless and frivolous, and is exploring legal remedies to defend itself. The Company also clarified that it had already filed a recovery case of Rs. 1.38 crore against the same customer under Section 138 of the Negotiable Instruments Act in October 2023. Management states no material adverse impact is expected on financials, operations, or reputation.
Based on the Company's own assessment, there is no expected material impact on financials or operations. However, legal proceedings against Directors (including Independent Directors) could affect sentiment and reputation in the short term, even though the matter is in early stages and the Company denies the claims.