- All
- Important
- Financial Update
- Fund Raise
- Board Meeting
- Dividend/Bonus
- JV/Acquisition
- Investor Meet
- Insider Trade
- Pledging
- Others
Loading...
Roto Pumps (ROTO) provided an update on a fund embezzlement at its South African step-down subsidiary, Roto Pumps Africa Pty Ltd. An estimated Rs. 6.00 Cr was embezzled by the erstwhile Director, Mr. Ravin Munsook Sewnarain, in collusion with a supplier. Following an internal investigation and legal advice, a settlement agreement for recovery is being executed. A legal case against the supplier is also in progress. The Audit Committee has advised a further forensic investigation into the matter.