Oswal Greentech Board Approves FY26 Audited Results; Identifies Fraudulent Conduct
Oswal Greentech's Board approved audited FY26 results on May 26, 2026. Auditors issued a modified opinion due to an ICD dispute affecting ₹37,495.27 crore and unconfirmed advances of ₹1,22,676.83 crore. The company also identified alleged fraud by a former representative impacting ₹14.58 crore, prompting legal action.
The modified audit opinion, substantial financial disputes related to ICDs, and allegations of fraud involving a former representative and a property transaction indicate significant risks and potential financial implications for the company.
The company is reporting a modified audit opinion, significant financial disputes, and allegations of fraudulent conduct, all of which have a negative impact on its financial standing and reputation.
Oswal Greentech Limited announced the outcome of its Board of Directors meeting held on May 26, 2026. The board approved the annual audited financial results for the quarter and financial year ended March 31, 2026. These results were previously reviewed by the Audit Committee.
The company's statutory auditors, M/s Mehta Chokshi & Shah LLP, issued an audit report with a modified opinion on the financial results. The auditors highlighted a dispute concerning interest charged on Inter Corporate Deposits (ICDs), leading to a shortfall of ₹37,495.27 crore, and a lack of confirmation for ICDs and real estate advances totaling ₹1,22,676.83 crore.
Furthermore, the company has identified alleged fraudulent and unauthorized acts by Mr. Vishnu Prasad Muddana, a former authorized representative, concerning a property transaction in Rishra Village, West Bengal. This involves alleged misrepresentation and unauthorized interference, with an estimated impact of ₹14.58 crore. The company has initiated legal proceedings and issued a legal notice in this regard. The investigation and evidence gathering for these acts were completed on May 25, 2026.
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Oswal Greentech Limited filed this with the NSE as a statutory disclosure, categorised under annual results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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