PDS Limited Reports Professional Misconduct Incident Involving Subsidiary In Bangladesh
PDS Limited has reported an incident involving alleged professional misconduct committed by a former employee of Poeticgem International Limited, a step-down subsidiary of the company incorporated in Hong Kong. The misconduct potentially involves breaches of confidentiality and suspected financial irregularities.The company stated that Poeticgem initiated appropriate legal actions in Bangladesh regarding the matter, which is currently sub judice and under investigation by competent authorities.
In India, PDS Limited filed a formal complaint with the Economic Offences Wing (EOW), Mumbai, on January 10, 2026. Following the complaint, a First Information Report (FIR) was registered on April 18, 2026, under the Bharatiya Nyaya Sanhita, 2023.
The allegations primarily relate to potential irregularities involving historical transactions spanning over four years, starting from August 2021. The complaint refers to certain historical amounts aggregating approximately ₹20.15 Cr.
A detailed summary of the allegations and potential financial impact is provided below:
| Particulars | Details |
|---|---|
| Nature of Allegations | Potential irregularities involving misuse of position, breach of confidentiality, and suspected financial misconduct. |
| Estimated Amount Involved | Approximately ₹20.15 Cr. This amount is a broad estimate and does not represent any additional or future liability of PDS Limited or Poeticgem. |
| Transactions Period | Allegations relate to historical transactions spanning over four years, starting from August 2021. |
| Persons Involved | The professional misconduct is alleged to be committed by a former senior employee of Poeticgem International Limited. The individual was not an employee of PDS Limited, India. |
| Financial Exposure | Based on the preliminary internal review, the value of transactions under reference for the period stated is estimated at ₹ 20.15 Cr. As of this stage, there is no identified incremental financial exposure or future liability on the Company or Poeticgem arising from the FIR registration. |
PDSL Stock Price Movement
PDS Limited shares shed 2.80% today, settling at ₹293.9. The stock traded with a total volume of 75,455 shares during the session.Source:
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