Syschem reports ₹1.96 Cr fraudulent funds transfer via cyber fraud

Syschem India Ltd reported a fraudulent transfer of ₹1.96 crore on April 15, 2026. The incident involved cyber fraud through WhatsApp impersonation, leading to funds being transferred to unauthorized accounts. Upon detection, the company immediately lodged a formal complaint with cybercrime authorities. Syschem is also reviewing and strengthening its internal controls and systems to prevent recurrence, while exploring recovery options and legal remedies. The management estimates the financial impact at ₹1.96 crore but believes this incident is not expected to materially impact the company's operations.