Ricoh India – Corporate Governance Alert

 

InGovern has prepared a note ‘Corporate Governance Alert – Ricoh India’  discussing and analysing the recent events of mis-governance in Ricoh India.

Ricoh India failed in disclosing its September and December ending quarterly results in due time for which BSE shifted its stock to ‘Z’ category. Further the new auditors and an independent agency reported that the financial statements are not true and fair and there may be cases of inflation of revenue and profits and instances of fraud by employees.

In its note, InGovern highlights the corporate governance violations committed by the company and its Board and possible steps that should be taken by the shareholders and the regulatory agencies, along-with the government to address the issue.

The note can be downloaded at: Ricoh India – InGovern CG Alert