Fraud detected in physical share transfers; EOW complaint filed
SMSPHARMA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
SMS Pharmaceuticals found that 85,000 shares belonging to 7 shareholders were fraudulently claimed using forged documents and impersonation. The fraud followed a common pattern with similar fake papers and nearby addresses. The company reviewed records, escalated the matter to its Stakeholders Relationship Committee and Board, and filed a complaint with the Economic Offences Wing in Hyderabad. A case is now registered for further investigation. The company says it will take all legal steps to protect genuine shareholders.
Company is acting proactively to protect shareholders. Scale of fraud is limited to 85,000 shares. Likely neutral for stock; positive for governance.