Penalty from ROC for delay in filing Significant Beneficial Owner form
JKCEMENT · price
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On the reaction day the stock moved 2.2 pts more than Nifty Midcap 150 and 2.7 pts more than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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JK Cement received an order from ROC Uttar Pradesh I imposing a penalty of about Rs 6.27 lakh total for delay in filing Form BEN-2 for Significant Beneficial Owner disclosures under the Companies Act 2013. The company had itself voluntarily applied for adjudication. The company was fined Rs 2.64 lakh and four officers Rs 90,800 each. JK Cement says the order has no major financial impact.
Minor procedural penalty with negligible financial impact. No material effect on operations or shareholders expected.