Apr 23, 05:40 AM

M&M Finance Detects Rs 150 Crore Fraud, Shares Drop 8%

Mahindra & Mahindra Financial Services has detected a significant fraud at one of its North East branches, involving Rs 150 crore. The fraud was identified in the January-March quarter and involved the forgery of KYC documents leading to embezzlement of funds. This discovery has prompted the company to delay its Q4 financial results and defer a scheduled board meeting. Following the news, shares of Mahindra and Mahindra Financial Services plunged by 8%.

#North East #KYC #Mahindra #Mahindra Financial Services

Written with ChatGPT (GPT-4).

Sources

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Rs 1,500,000,000 Fraud At A North East Branch, Mahindra And Mahindra Financial Services Shares Plunge 8 pc #MahindraAndMahindraFinancialServices #StocksMarketToday #StocksToWatch #StocksInNews #Sensex #ShareMarkets https://t.co/nN6CdP2qIK
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Rs 1,500,000,000 Fraud At A North East Branch, Mahindra And Mahindra Financial Services Shares Plunge 8 pc #MahindraAndMahindraFinancialServices #Fraud #BankFraud #StocksMarketToday #StocksToWatch #StocksInNews #ShareMarkets https://t.co/nN6CdP2qIK

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M&M Finance Detects Rs 150 Crore Fraud, Shares Drop 8%

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