Mahindra Finance Faces Up To Rs 150-Crore Hit: What Went On At Its Mizoram Branch

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Mahindra Finance Faces Up To Rs 150-Crore Hit: What Went On At Its Mizoram Branch

The financial fraud at one of the branches of Mahindra & Mahindra Financial Services Ltd. occurred over a span of two to three years and it was only uncovered in March, according to people with direct knowledge of the matter. The unearthing of the fraud at a branch in Aizawl unnerved equity investors, resulting in its share price sinking to its lowest in over a month on Tuesday and leading to the postponement of the quarterly earnings announceme…