Yash Highvoltage Ltd. Reports Cyber Fraud Incident
Yash Highvoltage Ltd. announced a fraudulent cyber incident on March 31, 2026, impacting the company's operations. The incident involved a request for a change in bank account details from a regular vendor based in China, purportedly from the exporter.The company processed a payment to the revised account details after receiving documentary confirmation, and a partial shipment of materials was successfully received on March 31, 2026. The fraud was discovered when the supplier reported non-receipt of funds.
According to the company, the incident has no material impact on the operations of Yash Highvoltage Ltd. The total estimated amount involved is ₹2.10 crore, comprising ₹1.36 crore against the received partial shipment and ₹73.90 lacs against the non-receipt of material.
Yash Highvoltage Ltd. has initiated an internal investigation and is preparing to file a formal complaint with regulatory authorities. The company is also working with its bankers to explore potential recovery options. Internal controls are being reviewed and strengthened to prevent future occurrences.
Details of the Incident:
| Sr. No. | Details of Events | Information |
|---|---|---|
| 1 | Nature of fraud/default/arrest | Transborder cyber fraud involving impersonation and cheating based on a fraudulent email fabricated in the name of the supplier based in China, deceiving the company to make payments to a revised bank account. |
| 2 | Estimated impact | ₹2.10 crore, including ₹1.36 crore against the received partial shipment and ₹73.90 lacs against the non-receipt of material. |
| 3 | Time of occurrence | March 31, 2026, at 2:00 p.m. (IST) |
| 4 | Person(s) involved | Unidentified individuals, unrelated to the entity. |
| 5 | Estimated amount involved | ₹2.10 crore |
| 6 | Reporting to authorities | A formal complaint is being made to regulatory authorities. |
Tushar J. Akhmapukar, Company Secretary & Compliance Officer, disclosed the information.
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