Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
JAYKAY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Jaykay Enterprises has disclosed that its material subsidiary Neumesh Labs Private Limited (a 70:30 JV with Additive 3D Pte Limited) detected a case of misappropriation of funds, document falsification and criminal breach of trust allegedly committed by Mr. Prakasam Anand, a former Director of Neumesh Labs. The alleged fraud was discovered while trying to recover outstanding receivables, and Mr. Anand has since gone absconding. A criminal complaint has been filed with Philkhana Police Station, Kanpur. The estimated amount involved is around Rs. 53 crore, with an estimated impact of about Rs. 37 crore on the listed entity. The fraud is reported to have occurred over the past few years, and the company is also engaging with EOS GmbH to recover pending receivables.
This is a significant negative event for shareholders — a Rs. 37 crore hit could meaningfully affect the company's financials given its size, and there is uncertainty over full recovery since the accused is absconding. The stock may face pressure due to fraud-related disclosure in a material subsidiary, though the company is pursuing criminal action and recovery efforts.