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Alleged fraud wipes out Ricoh India's 20-year share gain

Auditors say profits may have been inflated; episode highlights need to bolster corporate governance

New Delhi

TWO months after Japanese camera and printer maker Ricoh Co was again recognised as one of the world's most ethical companies, the shares of its Indian unit were suspended following a rout exacerbated by allegations of fraud.

Ricoh India Ltd climbed almost 5,800 per cent