The Jammu & Kashmir Bank Limited has informed the Exchange about General Updates
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J&K Bank has submitted an addendum to its Annual Report 2024-25, attaching the comments received from the Comptroller and Auditor General of India (CAG) along with the bank's detailed responses. The CAG flagged three main issues: an understatement of Statutory Reserves by Rs 23.94 crore (related to 25% appropriation of depreciation on revalued assets from FY2017-18 to FY2022-23), an understatement of provisions by Rs 2.25 crore on an NPA account (M/s Goverdhan India Pvt. Ltd, secured under the now-void Roshni Act), and disclosure shortcomings regarding CGTMSE/NCGTC guarantee covers and investment transition gains. The bank has accepted the reserve adjustment (already booked in FY2025-26), defended its provisioning on the Roshni Act account citing pending review petitions, and committed to improving future disclosures. The CAG comments and bank's replies will be formally read out at the 87th AGM on 26 August 2025.
The financial impact is modest — combined adjustments amount to roughly Rs 26 crore in additional provisions/reserves — and the bank has already addressed them in the current year's books, so the effect on near-term earnings is limited. This is largely a procedural and disclosure-compliance update rather than a negative business event, and should not materially affect shareholder value or the stock price.