Mahindra Finance, a non-banking financial company, has detected a fraudulent scheme involving forged KYC documents and embezzlement of funds within its retail vehicle loan portfolio. The incident, which was brought to light at one of the company’s branches in the northeast region, has prompted the postponement of the board meeting where the financial results for the fiscal year 2023-24 were to be approved. Mahindra Finance estimates a financial impact of approximately Rs 150 crore as a result of this fraudulent activity.