PC Jeweller settles Sebi case for Rs 7.23 crore over LODR violations

PC Jeweller has settled a matter with the Securities and Exchange Board of India (Sebi) by paying Rs 7.23 crore for alleged violations of the Listing Obligations and Disclosure Requirements (LODR) Regulations.

 

Sebi had issued a show-cause notice to the company in February 2024 for allegations of non-disclosure or delayed disclosure of defaults on loans, details related to the classification of loans as non-performing assets (NPAs), submission of a resolution plan to lenders, its failure, and for furnishing misleading information to investors.

 

Following the settlement, the adjudication proceedings in the matter have been disposed of.

 

PC Jeweller had filed for settlement in April 2024, without admitting or denying the findings of fact and conclusions of law.