Ricoh identifies ₹683 crore fraud at Indian unit 
Japanese electronics company Ricoh said on Friday that it had identified “one-off/exceptional items” amounting to ₹683 crore in a fraudulent incident that surfaced at its Indian unit. The company stated that the main causes of falsification of accounts were fictitious sales, inappropriate revenue recognition, and inventory provisions. Notably, Ricoh India posted a loss of ₹1,118 crore in 2015-16.