Quick Heal files FIR against Manohar Malani for forgery

Our Bureau Mumbai | Updated on January 20, 2018 Published on February 24, 2016

The stock had seen a poor debut after Malani complained to SEBI about the company

Quick Heal Technologies, which got listed on February 18, has filed an FIR against Manohar Malani and others in Pune for alleged cheating, forgery and criminal intimidation. Malani claims to be an investor in Quick Heal Technologies.

Malani had complained against the company to SEBI that he along with his family members had been allotted 20,000 share of Quick Heal in the year 2000, which, after several bonus issues, translates into a considerable stake. But the same has not been disclosed by the company. Following this complaint, Quick Heal’s share price took a beating.

Quick Heal had a poor debut as the stock got listed at Rs 304.95, a discount of 5 per cent to its issue price of Rs 321, and closed down 20.73 per cent at Rs 254.45. On Wednesday, the stock closed down 3.55 per cent at Rs 212.15 on Bombay Stock Exchange.

In a letter to the stock exchange, Quick Heal has clarified that it has not received any amount from Malani or his family, towards share application money and had not allotted any shares to them.

“The accused has cheated the company and caused damage to the company’s stock price which have resulted in the economic losses both to the company and its shareholders,” Quick Heal said in the letter.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on February 24, 2016
This article is closed for comments.
Please Email the Editor