There was missing authentication in documents uploaded in Clarification filed now all the documents are verified and copies are enclosed along with clarification letter
Awaiting price reaction for this filing.
Naturo Agrotech India has disclosed to BSE an income tax demand of ₹38,11,900 for Assessment Year 2023-24 under Section 143(1) of the Income Tax Act, which it had not previously reported. The company says this demand arose because three former accountants allegedly forged director signatures and siphoned off approximately ₹8 crores from the company's bank accounts into their personal accounts over six months. An FIR (No. 0334 dated 17.04.2023) was filed by Managing Director Gaurav Jain at Shipra Path Police Station, Jaipur, accusing Abhishek Khandelwal, Naziya Bano, and Aman Khandelwal of cheating, forgery, and falsification of records, with alleged collusion of certain bank staff. The company claims the tax demand stems from these fraudulent transactions and that the police matter is under active investigation. The company admits the late disclosure was an inadvertent clerical oversight and not intentional, and has now submitted the complete disclosure along with the FIR copy.
Shareholders should note a serious internal fraud of roughly ₹8 crore has been alleged against former employees, an FIR is in place, and a related tax demand of about ₹38 lakhs is pending. The stock may face governance and reputational concerns until the police investigation concludes and recovery of the siphoned funds is clarified.