PC Jeweller Resolves Loan Default Case with Rs 7.23 Crore Settlement with SEBI

PC Jeweller Ltd resolved a case with SEBI concerning non-disclosure of loan default by paying Rs 7.23 crore. Without admitting any fault, they settled charges of not sharing crucial financial information, classified loans as NPAs, and faced multiple legal and financial challenges due to undisclosed defaults.

PC Jeweller Ltd has settled a significant regulatory case with the Securities and Exchange Board of India (SEBI) by agreeing to a payment of Rs 7.23 crore.

The case stemmed from allegations of non-disclosure of vital information regarding loan defaults, leading SEBI to initiate proceedings.

The jewellery retailer's settlement includes accusations of withholding critical financial information, including instances of loans classified as non-performing assets and related legal challenges.

(With inputs from agencies.)