Intellect Design Arena Limited has disclosed a cybersecurity incident pursuant to SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The incident involved the compromise of an employee's email account at the company's Canadian subsidiary, which was then used by an unauthorized party to send fake payment instructions to a customer.
Key Details
Nature of Incident: An employee's email account at the Canadian subsidiary was compromised, leading to unauthorized fake payment instructions being sent to a customer.
Financial Impact Assessment:
- The incident did not have any material bearing on the financial position or operations of the Company
- No outflow of funds from the Company's Bank Accounts occurred
- Based on preliminary assessment, there is no impact on the Company's products, platforms, or business operations
Timeline:
- The Company became aware of the incident on October 22, 2026
- Disclosure made to exchanges on October 28, 2026 after preliminary assessment
Involvement Assessment: Based on preliminary assessment, no person from the Company has been found to be involved in the incident.
Remedial Actions Taken:
- Police complaint filed in Canada
- Bank holding the beneficiary account asked to freeze and recover the funds
- Affected account has been secured
- Independent cyber-security firm engaged to investigate the incident
Disclosure Rationale: The disclosure was made after preliminary assessment to ascertain the facts of the incident and provide accurate information to investors. The company will keep stock exchanges informed of any material developments.
Regulatory Compliance: This intimation is made under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and applicable circulars, and is also available on the Company's website www.intellectdesign.com.