Dr. Reddy’s Laboratories Limited has issued a clarification regarding reports of a cyber fraud incident involving ₹2.16 crore. The company confirmed that the incident involved the impersonation of a vendor’s email address in an attempt to redirect legitimate payments.
In an official filing with the Bombay Stock Exchange (BSE), Dr. Reddy’s stated that its internal teams, along with banking partners, detected the issue in time and managed to freeze the funds, ensuring no financial loss to the company or the vendor.
The pharmaceutical major further noted that the incident does not qualify as a material event under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. However, the company reiterated its commitment to prompt disclosures for all material developments.
The clarification came after media reports claimed that hackers had duped the company of ₹2.16 crore. Dr. Reddy’s assured stakeholders that the situation was under control and that necessary security measures were promptly implemented to prevent recurrence.
