Rbz Jewellers Limited has informed the Exchange about General Updates
RBZJEWEL · price
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Awaiting price reaction for this filing.
RBZ Jewellers provided an update on an insurance claim related to a fraud previously committed by an employee. The total fraud amount was Rs. 1.98 crore, covered under a fidelity/crime insurance policy with IFFCO-Tokio General Insurance. The company has already recovered Rs. 22.75 lakh from the accused employee and received Rs. 1.02 crore as partial settlement from the insurer. The remaining Rs. 68.18 lakh is represented by gold currently held under judicial custody, and the company is pursuing legal steps for its release. If the gold is not released, the company remains entitled to full indemnification from the insurer.
This is a follow-up update with no new negative surprise — the company has already recovered most of the fraud amount through employee recovery and insurance payout. The remaining exposure is protected by policy terms, so the net financial impact on shareholders is expected to be minimal.