Legal11 Nov 2025, 01:12 pm
Dr Reddy's Laboratories Dodges Rs. 32.16 Crore Cyber Fraud Attempt
AI Summary
In a recent cyber fraud attempt, hackers attempted to dupe Dr Reddy's Laboratories of Rs. 32.16 crore by impersonating a vendor's email address to redirect a legitimate payment. However, the company's swift action, in collaboration with their banking partners, froze the funds, preventing any financial loss. This incident, while not categorized as material under SEBI regulations, highlights the company's commitment to timely detection and prompt disclosure of significant events.
Key Highlights
- Hackers attempted to dupe Dr Reddy's Laboratories of Rs. 32.16 crore
- The attempt involved impersonation of a vendor's email address
- The company's swift action, in collaboration with banking partners, froze the funds
- No financial loss was incurred by the company or the vendor
- Dr Reddy's Laboratories continues to adhere to SEBI regulations for material disclosures