Latteys Industries Reports ₹80 Lakh Cyber Fraud Case

Latteys Industries Limited has reported a suspected cyber fraud involving an unauthorised transfer of ₹0.80 crore from its bank account. The company disclosed the matter through separate filings with the National Stock Exchange and BSE on 28 October 2026. It described the incident as a suspected "Boss Scam", where an unauthorised person allegedly impersonated the managing director. The transfer occurred on 26 October 2026, according to the company’s disclosure. Latteys Industries said that no amount had been recovered as of the date of the filing. It is assessing the actual financial impact of the incident. The company also said that its daily operations have not faced any material disruption.

Unaudited Instructions Led to Transfer

The company said the suspected fraud involved instructions that appeared to have been issued by its managing director. These instructions were sent to the company secretary, according to the Regulation 30 disclosure. On the basis of those instructions, ₹0.80 crore was transferred from the company’s bank account to an unauthorised beneficiary. Latteys Industries said the person issuing the instructions was not authorised to do so. The filing does not identify the person or persons allegedly responsible. It also does not provide details of the beneficiary account. The matter came to the company’s knowledge on 26 October 2026, the same day that the funds were transferred.

Company Classifies Incident as Boss Scam

Latteys Industries referred to the incident as a Boss Scam in its disclosure. This type of fraud involves an individual posing as a senior executive and issuing instructions that appear legitimate to employees or company officials. In this case, the alleged impersonation concerned the company’s managing director. The disclosure indicates that the communication was presented as an instruction to make a payment. The company has not disclosed the communication channel used by the alleged fraudster. It has also not stated whether any other personnel or accounts were involved. Its disclosure is limited to the identified transfer and the steps taken after the incident was detected.

₹0.80 Crore Recovery Remains Nil

The company stated that the amount recovered so far is nil. As a result, the full ₹0.80 crore transferred remains subject to recovery efforts as of 28 October 2026. Latteys Industries said it has asked its bank to take steps to recall the funds. The final financial effect remains under assessment, according to the filing. This means the company has not quantified any confirmed loss beyond the unauthorised transfer amount. It has not disclosed whether the funds have been frozen, traced, or returned in part. Any update on recovery or the final impact would depend on further developments and the company’s subsequent disclosures.

Complaint Filed With Cyber Crime Police

Latteys Industries said it reported the matter to the concerned cyber crime police station. The company cited a complaint acknowledgement dated 26 October 2026. It has also notified its bank about the unauthorised transfer. Reporting the matter to law-enforcement authorities and the bank formed part of the company’s immediate response after identifying the incident. The filing states that the company is cooperating with the authorities investigating the matter. No details were provided on the status of the police inquiry. The company has not said whether any formal action has been taken against an identified individual.

Internal Review and Record Preservation

Alongside the complaint and bank notification, Latteys Industries said it preserved electronic records and communications connected with the matter. It also began an internal review. These actions were listed in the company’s disclosure as part of its response to the suspected fraud. The internal review may help the company assess the sequence of events and the financial effect, although no findings have been disclosed. Latteys Industries said it is taking measures to prevent recurrence. The filing does not specify the measures being implemented. It also does not provide a timeline for completion of the review.

Key Facts From the Exchange Filing

The company’s filings were made to BSE at 16:17 IST and NSE at 17:24 IST on 28 October 2026. Both announcements classified the matter under adverse business impact. The exchange disclosures provide the same central information: an unauthorised ₹0.80 crore transfer, nil recovery, and an ongoing assessment of the financial effect. No share-price movement, earnings impact, or revised financial guidance was included in the material provided. Investors therefore have no disclosed quantified impact on revenue, profit, cash balance, or operations beyond the transferred amount. The company has said that day-to-day operations have not been materially disrupted.

What the Disclosure Means for Investors

The immediate disclosed financial exposure is ₹0.80 crore, because that is the amount transferred to an unauthorised beneficiary. However, Latteys Industries has not confirmed that the entire amount will be recognised as a final loss. Its eventual financial impact will depend on recovery efforts and the outcome of the assessment. The absence of any recovered amount at the time of disclosure is a key fact for shareholders to monitor. The company has not stated whether insurance coverage applies to the incident. It has also not disclosed any impact on customer transactions, supplier payments, or other business activities. The available information does not support conclusions beyond the company’s stated assessment.

Operational Impact Reported as Limited

Latteys Industries said the incident has not caused material disruption to its day-to-day operations. That statement indicates that the company continued its regular activities after becoming aware of the alleged fraud. At the same time, it is conducting an internal review and engaging with its bank and cyber crime authorities. The company’s response focuses on recovering the funds, preserving evidence, and reducing the chance of a similar incident. No further operational data was included in the filing. There was no disclosure of plant closures, service interruptions, or changes to business operations. The company said it would make further disclosures if material developments arise.

What Happens Next

The next important update would be any progress on the recall of the transferred funds. Investors may also watch for the outcome of the internal review and any updates from the investigating authorities. Latteys Industries has committed to making further disclosures if there are material developments. Until then, the company’s stated position is that the amount recovered is nil and the actual financial impact is being assessed. The incident highlights the importance of verification procedures for payment instructions that appear to come from senior executives. For now, the available exchange filing establishes the amount involved, the reported method of fraud, and the company’s response steps. It does not establish responsibility for the alleged fraud or a final loss figure.