JK Tyre & Industries Ltd. has disclosed a letter received on June 11, 2026, from the Collector of Stamps, Rajasthan. The order pertains to stamp duty, surcharges, penalty, and interest related to the Scheme of Amalgamation of Cavendish Industries Ltd. with JK Tyre. The company is contesting the penalty and interest, totaling ₹2 Crore each, and plans to file an appeal.
Disclosure Under SEBI Regulations
JK Tyre & Industries Ltd. has formally announced a disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This announcement details a communication received by the company on June 11, 2026, at 11:47 AM. The communication is a letter issued by the Collector Stamps, Rajasthan Special Circle, Jaipur.
Order Details and Stamp Duty Implications
The letter, dated June 10, 2026, concerns an order passed under Sections 35/37 read with Sections 51 and 53 of the Rajasthan Stamp Act, 1998. The order mandates the deposit of stamp duty, along with applicable surcharges and penalty, and interest, each amounting to ₹2 Crore. This order is related to the Scheme of Amalgamation of Cavendish Industries Ltd. with JK Tyre & Industries Ltd.
Company’s Stance and Appeal Plans
JK Tyre & Industries Ltd. confirms that the payment of stamp duty and surcharges is being made as per the order. However, the company strongly believes it has a valid case for appeal. It intends to approach higher authorities for the waiver of the penalty and interest, which also total ₹2 Crore each. The company’s decision to appeal is based on its contention that it approached the authorities for adjudication of Stamp Duty in a timely manner. Consequently, the company does not foresee any significant expected financial implications arising from this order, as it plans to contest the penalty and interest charges.
Communication Details
The communication received is classified as a letter dated June 10, 2026. The authority from whom the communication was received is the Collector Stamps, Rajasthan Special Circle, Jaipur. The period for which the communication would be applicable is stated as ‘Not Applicable’. The company has indicated that while stamp duty and surcharges are being paid, the penalty and interest of ₹2 Crore each are subject to appeal.
Actions Taken by the Company
The company believes it has a strong case and, accordingly, prefers to file an appeal before the appropriate appellate authority regarding the penalty and interest charges. No other relevant information has been provided at this stage.
Source: BSE
