Onix Solar Energy Ltd has issued a clarification regarding reports linking the company to an alleged fraudulent bank guarantee case. The firm confirmed that the projects mentioned were undertaken via third-party entities, it has not been named as an accused in the FIR, and its operations and financial position remain unaffected.
Onix Solar Energy Ltd has formally addressed recent reports concerning an alleged fraudulent bank guarantee issue. The company emphasized that the projects referred to in these reports were originally undertaken through third-party entities, not directly by Onix Solar.
Importantly, Onix Solar clarified that it has not been named as an accused in the FIR filed in connection with the matter. The company reassured stakeholders that there is no impact on its operations or financial position, underscoring its continued stability and compliance.
This clarification aims to provide transparency to investors and the public, ensuring confidence in Onix Solar’s business continuity and governance standards.
Key Highlights
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Clarification Issued: Onix Solar responds to reports on alleged fraudulent bank guarantee issue.
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Third-Party Projects: Projects mentioned were undertaken via external entities.
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No FIR Accusation: Onix Solar has not been named as an accused.
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Business Impact: No effect on operations or financial position.
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Investor Confidence: Statement reinforces transparency and compliance.
Sources: Moneycontrol, Business Standard, Economic Times