Oswal Greentech Board Approves FY26 Results; Uncovers Employee Fraud Impacting ₹14.58 Crore
Oswal Greentech reported its FY26 annual audited financial results. The company identified alleged fraudulent acts by a former representative, Mr. Vishnu Prasad Muddana, impacting ₹14.58 Crore. Legal proceedings have been initiated. The auditors issued a modified opinion due to ongoing disputes regarding Inter-Corporate Deposits and uncertainty over real estate advances.
The discovery of alleged fraud by a former employee with an estimated financial impact of ₹14.58 Crore, coupled with a modified audit opinion on the financial results, indicates a high impact on the company's financial standing and investor confidence.
The announcement details a modified audit opinion and the identification of alleged fraudulent activities by a former employee, leading to a significant financial impact and ongoing legal proceedings. These factors contribute to a negative sentiment.
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 reviewed by the Audit Committee on the same day.
The company's statutory auditors, Mehta Chokshi & Shah LLP, issued an audit report with a modified opinion on these financial results. The announcement includes the audited financial results, the auditor's report, and a statement on the impact of audit qualifications for the standalone results.
Furthermore, the company has identified alleged fraudulent and unauthorized acts involving Mr. Vishnu Prasad Muddana, a former authorized representative, concerning a proposed property transaction for the company's land in Rishra Village, West Bengal. Mr. Muddana previously served as Chief Financial Officer of Oswal Agro Mills Limited from January 28, 2025, to July 07, 2025. Following his resignation, all his authorities were withdrawn. Despite this, alleged acts of collusion, misrepresentation, and unauthorized interference with the property have been observed, even after the lawful termination of the Agreement of Conveyance with RSV Construction Private Limited. The company has issued a legal notice and initiated appropriate legal proceedings. The estimated impact of these fraudulent acts is ₹14.58 Crore, and the company obtained supporting evidence 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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See the model portfoliosA plain-language summary of a public exchange filing by Oswal Greentech Limited. Read the original for the full detail.