Mahindra Finance reported a fraud of approximately Rs 150 crore in its retail vehicle loan portfolio at one of its branches in the northeast. The fraud involved forgery of KYC documents and embezzlement of company funds. As a result, the company has deferred its board meeting to approve the financial results for the March quarter and 2023-24. Investigations are ongoing, and corrective actions are being implemented, including the arrest of some individuals involved.
