Syschem India Receives Judicial Order Directing Recovery of Funds in Fraudulent Transfer Case
Syschem India Ltd has received a judicial order pertaining to a matter involving the fraudulent transfer of funds from the company's accounts, directing the recovery of specified amounts. The order was received by the company on June 9, 2026.The competent authority that passed the order is the Judicial Magistrate I Class, Chandigarh. The order, dated June 6, 2026, pertains to recovering funds from the accounts identified during the investigation of fraudulent transactions involving Syschem India Ltd.
Pursuant to the said judicial directive, an amount has been directed to be recovered in favour of the company from the associated accounts. The company stated that it is taking all necessary steps for the implementation of the order and the recovery of the aforementioned funds.
Details regarding the regulatory action and financial impact are summarized below:
| Aspect | Details |
|---|---|
| Authority Passing Order | Judicial Magistrate I Class, Chandigarh |
| Nature of Order | Directing recovery or release of funds in favour of the Company |
| Date of Receipt by Company | June 9, 2026 |
| Recovery Amount | ¥55,57,630.61 (or 355,57,630.61) |
| Status | The company is taking necessary steps for order implementation and recovery of funds. |
Stock Price Movement
At the close on Tuesday, Syschem India Ltd settled at ₹42.93, which reflected a decline of 4.62%. The shares traded throughout the day within an intraday range that extended from a low of ₹42.10 to a high of ₹45.89.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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