Accountant Fraud Leads to ₹84 Lakh Misappropriation at Rachana Infrastructure Limited
Rachana Infrastructure Limited has confirmed a case of fraud involving an internal employee, revealing that funds were misused over a multi-year period. The misuse involved misrepresenting and falsifying payment lists within the company’s payout system, resulting in financial loss.The fraudulent activity was committed by Mrs. Anjanaben Rajnikantbhai Patel, an accountant who had been employed at Rachana Infrastructure Limited since 2019. During her tenure, she allegedly abused the internal procedures for paying bills and salaries to creditors and employees in different states. By including the names of her son and other relatives on these false payout lists, funds were transferred from the company into their bank accounts.
The investigation identified multiple false transactions totaling ₹84,02,694/- that occurred between 2019 and 2026. Mrs. Patel was the individual involved in the misappropriation.
A summary of the financial impact is as follows:
| Metric | Details |
|---|---|
| Estimated Amount Involved | ₹84,02,694/- |
| Time Period of Fraud | 2019 to 2026 |
| Employee Involved | Mrs. Anjanaben Rajnikantbhai Patel (Accountant) |
In response to the fraud, Rachana Infrastructure Limited initiated legal and operational changes. The company filed a First Information Report (FIR) regarding the incident against the employee, Mrs. Anjanaben Rajnikantbhai Patel, and her son, Mr. Nisarg Manishbhai Patel. This FIR was registered at Bodakdev Police Station, Ahmedabad, with FIR No. 11191006260195, dated July 31, 2026.
Regarding corrective measures, Rachana Infrastructure Limited terminated the employee's services and scrapped the previous system and procedure for fund payout. The company has since designed a more robust and secured payment system to prevent similar occurrences in the future.
RILINFRA Stock Price Movement
Today, shares of Rachana Infrastructure Limited edged higher, closing at ₹38.75 after gaining 0.77% in the market. The equity saw steady movement throughout the session, trading within a range between a low of ₹38.3 and a high of ₹39.5.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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