Clarification7 Jul 2026, 12:33 pm
K S Oils Clarifies CBI Probe Allegations, Denies Direct Communication
AI Summary
K S Oils Ltd has issued a clarification regarding news reports alleging a ₹75 crore trade finance fraud involving the company and former officials between 2010-2014. The company states it has not received any communication from the CBI regarding the matter. K S Oils highlights that it was acquired by Soy-Sar Edible Private Limited through a liquidation process under the IBC, 2016, and the alleged fraud pertains to the period before its acquisition by the present management. The current management is reviewing the situation and will take appropriate legal steps. Business operations remain normal and unaffected.
Key Highlights
- Company denies receiving any CBI notice regarding alleged ₹75 crore fraud.
- Allegations pertain to the period 2010-2014, before current management's acquisition.
- K S Oils was acquired via liquidation under IBC, 2016.
- Current management is reviewing the matter and will take legal steps.
- Business operations continue normally and are unaffected.
Price Impact
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