Stock in Focus: This company's CFO has been accused of fraud of ₹20 crore, these stocks will remain in focus:

News Topical, Digital Desk : Stock in Focus: Shares of Kajaria Ceramics Ltd. will be in focus today, Monday, December 22nd, following the company's accusation of fraud of ₹20 crore against a senior executive of its wholly-owned subsidiary. The company has scheduled an investors' conference call at 11 am today to inform investors about the matter. In a filing to the stock exchanges on Friday, the company informed that Dilip Kumar Maliwal, Chief Financial Officer (CFO) of Kajaria Bathware Pvt. Ltd. (KBPL), has embezzled and misappropriated funds amounting to approximately ₹20 crore from Kerovit Global Pvt. Ltd. (KGPL), another wholly-owned subsidiary of the company, over the past two years. According to Kajaria Ceramics, the losses incurred due to this fraud will impact Kerovit Global Pvt. Ltd., as it is a significant and ultimate holding subsidiary of the company.
The company informed that as soon as the fraud was detected, a complaint was lodged with the Economic Offence Wing of Delhi Police, Deputy Commissioner of Police and Badarpur Police Station on 18 December 2025. The matter is currently under investigation. Along with this, the company has terminated the services of Dilip Kumar Maliwal with immediate effect.

Strictness on Corporate Governance Kajaria Ceramics has said that the matter will be placed before the appropriate committee of the Board of Directors, so that appropriate safeguards and internal controls can be strengthened to prevent such incidents in future.

Share Performance Shares of Kajaria Ceramics Ltd. closed at ₹1,048, down 1.9% in Friday's trading session. The stock has lost around 10.6% so far in 2025.