PC Jeweller has submitted that the Company's accounts have been classified as NPA with its Bankers since June 2021 and its resolution process has been underway since then. However, the Lead Bank has moved the DRT Delhi on January 18, 2023 against the Company seeking full recovery of its outstanding exposure. In response, the Company has gone into appeal against the same and the matter is currently sub-judice and there is no clarity on the outcome of the same. Hence, the Company has not yet made any announcement regards the same though it has clear intentions to make the required disclosures immediately on crystallization of the situation. As per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company make timely disclosures of all the events, information etc. that have a bearing on the operation / performance of the Company which include all price sensitive information etc. The Company, however, apprehends that the movement in its share price may be on account of this impending announcement only.
The above information is a part of company’s filings submitted to BSE.