FIR filed against former directors for alleged Rs 1.78 cr fraud
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Company filed an FIR on April 9, 2026 against former directors Prashanth Mitta and Asha Mitta and associates for alleged fraud. An unsecured loan of ~Rs 1.78 crores from Raj Breeders and Hatcheries was allegedly siphoned off, with possible falsification of books, unauthorized bank account access, and non-disclosure to the stock exchange. A Section 7 IBC insolvency petition has been filed against the company. Estimated impact ~Rs 10.45 crores (market cap). New board was appointed by shareholders at an EGM in Dec 2025.
Severe governance failure; criminal probe, NCLT insolvency risk, and major uncertainty for shareholders and stock price.