Skyline Ventures files FIR against former directors for ₹1.78 Cr fraud
Skyline Ventures India Ltd has filed an FIR (No. 542/2026) against former directors Mr. Prashanth Mitta, Ms. Asha Mitta, and associates for alleged fraud. A preliminary review identified a suspected fraud involving an unsecured loan of approximately ₹1.78 Crores obtained from Raj Breeders and Hatcheries Private Limited under the pretext of a questionable work order from Verrkotech Solutions Private Limited. The company alleges that funds were diverted to personal accounts of former directors and associates, and that financial statements were potentially altered. These actions, which were not disclosed to shareholders or the stock exchange, have led to significant financial stress for the company and a potential insolvency petition.
Key Highlights
- Company filed an FIR against former directors for alleged fraud.
- Suspected fraud involves a ₹1.78 Cr unsecured loan and fund diversion.
- Transactions occurred after former director's re-appointment was rejected.
- Allegations include undisclosed transactions and altered books of accounts.
- Fraud led to significant financial stress and potential insolvency.
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