Paul Merchants Finance Pvt Ltd duped Rs. 1.95 crores approx. by fraudsters

Paul Merchants Ltd's wholly owned subsidiary company i.e. Paul Merchants Finance Private Limited ("PMFPL"), has noticed some incidents whereby some customers have been able to hack the servers of the Company, which were being used by them for issuing prepaid wallets and prepaid cards. In the process, the fraudsters have duped the Company PMFPL to the tune of approximately Rs. 1.95 Crores.

The transactions have been found to have taken place during the period from 21st December 2022 to 29th December 2022 and have been come to the knowledge of the Company on 29th December, 2022. PMFPL has since, blocked its services for further transactions and has filed the complaint with the Cyber Cell, Chandigarh Police. Any further material developments in this regard, if any, will be announced by the Company in due course.

Shares of Paul Merchants Ltd was last trading in BSE at Rs. 1256.30 as compared to the previous close of Rs. 1279.65. The total number of shares traded during the day was 2401 in over 148 trades.

The stock hit an intraday high of Rs. 1325.00 and intraday low of 1250.00. The net turnover during the day was Rs. 3064587.00.

Source : Equity Bulls

Keywords

PaulMerchants INE291E01019 PaulMerchantsFinance Fraud PrepaidWallets PrepaidCards