IVP Limited has informed stock exchanges about a case of internal fraud involving misrepresentation and falsification of customer records by a sales employee. The disclosure follows a preliminary investigation and is made in compliance with SEBI’s Regulation 30 requirements. Further details will be shared as the investigation progresses.
IVP Limited has officially disclosed an instance of internal misconduct following a preliminary investigation into irregularities within its sales operations. The company stated that a sales employee was found to be involved in misrepresentation and falsification of customer-related documents. The disclosure has been made in line with regulatory requirements to ensure transparency and timely communication with stakeholders.
Nature of the issue
The matter pertains to misrepresentation and falsification of customer documents identified during a preliminary internal review.
Impact assessment
At this stage, the financial impact on the company has not been quantified. IVP Limited has clarified that the estimated impact will be disclosed once the investigation reaches a more advanced stage.
Timeline of occurrence
The fraudulent activity is believed to have occurred over an extended period. The exact duration is currently under investigation and will be disclosed after further findings.
Amount involved
The estimated monetary amount, if any, is yet to be ascertained and will be identified upon completion of the investigation.
Individual involved
The person identified in the preliminary findings is Mr. Ravi Ranjan Jha, a sales employee of the company.
Regulatory and legal action
The company has prima facie identified the fraud and is in the process of filing a formal complaint against the concerned employee with the appropriate authorities.
Source: IVP Limited disclosure to the Stock Exchanges