NSEFrauds/Default by employees2d ago · 23 Jul 2026, 08:09 pm

Frauds/Default by employees

Servotech Renewable Power System Limited · SERVOTECH

✦ AI Summary▼ NegativeLitigation

Servotech Renewable Power System Limited has informed the Exchange about detection of internal fraud involving two employees and an external party, resulting in unauthorized removal of inventory and forgery of tax invoices, with estimated impact of approximately Rs 2-2.5 crores.

Analysis Scores

Earnings Impact2/10
Growth Catalyst1/10
Governance Concern8/10
Regulatory Risk6/10
Balance Sheet Risk4/10
Liquidity Impact5/10
Market Sentiment2/10

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Servotech Renewable Power System Limited has informed the Exchange about Frauds/Default by employees

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SERVOTECH_23072026200358_NSE_23-07.pdf

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To, 23rd July, 2026 National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot no. C/1 G Block, Bandra- Kurla Complex, Bandra (E) Mumbai – 400051 Trading Symbol: SERVOTECH Sub: Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 – Detection of Internal Fraud and Initiating Criminal Action Dear Sir/Madam, In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform the Exchange that the Management of Servotech Renewable Power System Ltd ("the Company") has detected an internal fraud involving two employees and an external party. Based on the preliminary findings, the fraud is alleged to have been carried out over a period of time through the unauthorized removal of the Company's inventory and forgery of tax invoices. The matter is presently under investigation. The Company remains committed to maintaining the highest standards of corporate governance and shall provide further updates as and when any material development occurs. The details required under the SEBI Master Circular for compliance with the provisions of the Listing Regulations dated January 30, 2026, are provided as Annexure-I. We request you to kindly take the same on record. Thanking You, FOR SERVOTECH RENEWABLE POWER SYSTEM LIMITED RUPINDER KAUR COMPANY SECRETARY AND COMPLIANCE OFFICER ICSI MEM. NO: A38697 Annexure- I Disclosure pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Master Circular dated January 30, 2026 S.No Particulars Details a) Nature of Fraud Forgery of company tax invoices (using genuine transaction data) and unauthorized removal of physical inventory. b) Estimated impact on the Based on preliminary internal reconciliation, the listed entity estimated impact is approximately Rs 2-2.5 crores. The Company is in the process of appointing a professional forensic auditor to determine the final quantum. c) Time of occurrence As per preliminary assessment, the incident occurred over a period time. Since the investigation is underway, it is hard to estimate the time period. d) Person(s) involved Mr. Gagandeep Rajora (Head – Supply Chain Management) and Mr. Vijay Kumar (Manager – Production Planning & Control), in collusion with an external entity, M/s Shri Shyam Industries. e) Estimated amount Approx 2-2.5 crores involved f) Whether reported to Yes, FIR No- 429/2026 has been registered with Police appropriate authorities Station Kundli, District Sonipat, Haryana.