Polycab India Limited, a leading manufacturer of wires and cables, has reported a significant ransomware attack on its IT infrastructure.
The company has disclosed the incident in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Upon detecting the cyber-attack, Polycab took swift action to contain the breach and assess its impact.
The company has informed the relevant authorities and is currently cooperating with cybersecurity experts to mitigate the effects of the attack.
Despite the severity of the incident, Polycab has assured stakeholders that its core systems are operational and manufacturing processes have not been compromised.
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The company’s quick response has enabled it to maintain continuity in its operations.
On March 17th, 2024, Polycab reported a cyber security breach that resulted in a ransomware attack on its IT infrastructure.
This disclosure was made after Polycab filed an official statement regarding the attack.
Ongoing Investigation
The details of the ransomware type and the attackers’ identity remain under investigation.
Polycab is working closely with law enforcement and cybersecurity professionals to understand the scope of the breach and prevent future incidents.
This attack brings to light the increasing threat of ransomware attacks on corporate entities.
Companies across the globe are investing more in cybersecurity measures to protect their digital assets and infrastructure.
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