Announcement under regulation 30(LODR): Updating in regards to earlier disclosure made dated 15-04-2026, regarding Fraudulent Transfer of funds and receive of recovery order.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Syschem India Ltd has received a court order dated June 6, 2026 from the Judicial Magistrate 1st Class, Chandigarh, in connection with a previously disclosed case of fraudulent transfer of funds from the company to certain fake accounts. The order directs recovery of ₹55,57,630.61 (around ₹55.58 lakhs) in favour of the company from the accounts identified during the investigation. This is an update to the company's earlier disclosure made on April 15, 2026 under SEBI LODR Regulation 30. The company has stated it is taking all necessary steps to implement the order and recover the amount.
Mildly positive for shareholders — the company has secured a legal recovery order for around ₹55.58 lakhs lost to fraud, but actual receipt of funds depends on successful implementation and the relatively small size limits any material upside to the stock.