Syschem (India) Limited has submitted its quarterly compliance statement to BSE Limited, confirming no deviation or variation in the utilization of proceeds from its preferential issue for the quarter ended March 31, 2026. The statement was filed under Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Fund Raising Details

The company completed its preferential issue on March 13, 2026, raising a total amount of Rs. 20,21,25,000. The fund raising was approved by shareholders on January 20, 2025, following the notice of shareholders meeting dated December 24, 2024.

Fund Utilization Breakdown

The preferential issue proceeds were allocated across four primary objectives with specific allocations:

During the quarter ended March 31, 2026, the company utilized Rs. 2021.25 lakhs exclusively for meeting working capital requirements, which aligns with the original allocation plan.

Audit Committee Review

The Audit Committee conducted a comprehensive review of the funds utilization report presented by the Board. Following their assessment, the committee concluded that the funds were utilized for the purposes for which they were raised, as prescribed in the Notice of Shareholders Meeting dated December 24, 2024.

Compliance Confirmation

The company confirmed that there was no deviation or variation in the use of proceeds during the reporting quarter. All fund utilization remained within the approved framework, with no modifications to the original objects or allocations. The statement was duly signed by Company Secretary and Compliance Officer Shikha Kataria and Chief Financial Officer Sanjeev Agrawal, ensuring proper corporate governance compliance.

The filing demonstrates Syschem's adherence to regulatory requirements and transparent reporting of fund utilization to stakeholders and regulatory authorities.

Syschem (India) Limited has reported a major cyber fraud incident resulting in unauthorized transfer of ₹1.96 crore to fraudulent accounts. The company disclosed this information to BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, highlighting the growing threat of cyber fraud targeting corporate entities.

Fraud Details and Timeline

The cyber fraud occurred through WhatsApp impersonation, a increasingly common method used by fraudsters to deceive companies into transferring funds. The incident was both detected and occurred on April 15, 2026, indicating swift identification of the fraudulent activity.

Immediate Response and Actions Taken

Upon detection of the fraudulent transfer, Syschem India Limited initiated immediate corrective measures to limit further damage and begin recovery efforts. The company has taken several steps to address the incident:

• Filed formal complaint with cybercrime authorities and police
• Initiated comprehensive review of internal controls and systems
• Implemented measures to strengthen existing security protocols
• Exploring all available recovery options and legal remedies

Financial Impact Assessment

The company has assessed the financial implications of this cyber fraud incident. Despite the substantial amount involved, management maintains a measured outlook on the overall business impact.

Regulatory Compliance and Transparency

Syschem India Limited has demonstrated prompt regulatory compliance by disclosing the incident under SEBI regulations. The company has committed to maintaining transparency with stock exchanges regarding any material developments in this matter. This disclosure reflects the company's adherence to corporate governance standards and regulatory requirements for timely reporting of significant events that could impact stakeholders.