Insecticides dips on ₹20-cr fraud

Our Bureau Chennai | Updated on July 07, 2020 Published on July 07, 2020

Shares of Insecticides India slipped 3.23 per cent at ₹416.40 on the BSE, after it informed the exchanges about ₹20-crore fraud. According to Insecticides, zonal and territory manager (Chhattisgarh) of the company, along with 16 distributors and dealers, were found to be indulged in commission of breach of trust, criminal misappropriation and fraud over a period of time, thereby causing severe loss and injury to the company. The company has filed a formal complaint with police authority. The company would render necessary assistance to the police in investigation of the matter and further material details, will be intimated to the exchange promptly, it said further.

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Published on July 07, 2020
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