IVP Limited Discloses Major Update on Employee Fraud, Total Amount Reaches Rs. 613 Lakhs
IVP Limited has reported a significant update regarding a fraud perpetrated by a former employee, confirming a total amount involved of Rs. 613 lakhs. The company detailed the findings following a thorough internal investigation, highlighting the financial impact and the corrective measures undertaken.The investigation into the fraud, which involved misrepresentation and falsification of customer records, escalated over time. Initial disclosures, made on January 13, 2026, indicated that the fraud was committed by a sales employee and that the initial estimated impact was under investigation.
Subsequently, an update provided on January 29, 2026, narrowed the scope of the matter. At that time, the actual amount involved was reported as Rs. 195 Lakhs. The company noted that a full provision had been made for this amount, resulting in no reported impact on the regular operations of the company. Furthermore, an application for a First Information Report (FIR) had been filed before the Byculla Police Station in Mumbai.
The company provided details of the material facts in a table format:
| Metric | Value |
|---|---|
| Actual amount involved, if any | Rs. 195 Lakhs |
| Actual impact on Company and financials | Rs. 195 Lakhs |
| Fraud reported to appropriate Authority | Application for FIR filed before Byculla Police Station (Mumbai 400027, Maharashtra) |
| Corrective measures taken by the Company | Made the customer onboarding process more robust |
The company issued a final update on May 21, 2026, detailing a substantial increase in the figure reported. Based on the findings of the investigation, the total amount involved in the matter was determined to be Rs. 613 lakhs.
This revised disclosure provided the following material figures:
| Metric | Value |
|---|---|
| Actual amount involved, if any | Rs. 613 lakhs |
| Actual impact on Company and financials | Rs. 613 lakhs |
| Fraud reported to appropriate Authority | FIR filed before Byculla Police Station (Mumbai 400027, Maharashtra) |
| Corrective measures taken by the Company | Made the customer onboarding process more robust |
The company stated that the detection of the fraud occurred on January 12, 2026. In addition to the financial updates, IVP Limited confirmed that robust measures were put in place to prevent recurrence, specifically by making the customer onboarding process more robust.
IVP Stock Price Movement
Today, IVP Limited shares edged higher to close at ₹164.35, marking a 6.56% gain for the session. The stock saw a consistent trading day, moving on a total volume of 20,344 shares.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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