JK Tyre & Industries Limited has informed BSE and NSE about an order received from the Collector Stamps, Rajasthan Special Circle, Jaipur. The order requires payment of stamp duty on the Scheme of Amalgamation of Cavendish Industries Ltd with JK Tyre & Industries Ltd. The disclosure has been made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
The order has been passed under Sections 35/37 read with Sections 51 and 53 of the Rajasthan Stamp Act, 1998. JK Tyre & Industries has been directed to deposit stamp duty along with applicable surcharges. The order also imposes a penalty of Rs 2 Crore and interest of Rs 2 Crore.
The communication from the Collector Stamps is dated June 10, 2026 and was received by JK Tyre & Industries on June 11, 2026 at 11:47 AM. JK Tyre & Industries has stated that payment of the stamp duty and applicable surcharges is being made.
JK Tyre & Industries believes it has a strong case to appeal before higher authorities for a waiver of the penalty and interest of Rs 2 Crore each. The company had approached the authority for adjudication of the stamp duty within the prescribed timeline.
JK Tyre & Industries has stated that there is no expected financial implication arising from the order. The company intends to file an appeal before the appropriate appellate authority for waiver of the penalty and interest components.
The period for which the communication is applicable has been noted as not applicable. JK Tyre & Industries has not identified any aberrations or non-compliances beyond the scope of the order. The company believes an appeal is appropriate given the circumstances of the adjudication timeline.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.