I think those were settled after paying 7cr penalty. They recently filed this on exchanges.
One of most fraud company i have ever seen, attended their AGM 5 years back, they used bouncers and dis not answer any questions on 1500 cr siphoned off amount. 
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Read Post no 299:
Posting here once again: For the benefit of New investors
We won’t learn from History- do we??
Every year new investors come to the market and think this time it’s different and it’s cheap because its fallen 80% how much it can go more from here …then it falls 80% from there…
First Denial…then finding reasons defending the company… then more smoke comes out…then trying to find facts…then story becomes ugly…then acceptance…booking loss… and then…realization and lesson learned … then move on…
As they famously say History doesn’t repeat itself…It rhymes… isn’t it…
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how come they have such high OPM % compared to peers (who in my view are doing better than them)?
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PCJ_AR7.pdf (80.6 KB)
PCJ_Business update 30092025.pdf (819.7 KB)
Attached Page 7 of the Annual Report and recent business update and Loan position.
Big Question: Wealth Creator, wealth destroyer and another way to trap INVESTORS!!!
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The company is giving best QOQ For last 3-4 Qtrs. Borrowing also reducing & more showrooms are getting. Still something is quite negative, which resulting into continuous stock falling. M i missing something.
Disc: invested with tracking position
PC Jewellers : A Case Study
( I am narrating it without numbers in the first instance.
The business line was that the suppliers of the gold and precious gems sell goods to PCJ on 2-3 days credit.
PCJ, to make payment to the suppliers, resorts to the bank/s and the borrows funds which entail interest burden/financial cost.
Now, on account of negative publicity on insider trading and stern action of SEBI, its sales dip significantly which has a direct bearing to inventory turn over ratio.
It is a double whammy…
Sales dip, inventory at the store remains unsold and interest meters, like mumbai taxiwala’s kali-pili running, swiftly…
The bank loan trapped into this, pinching more as principal and interest together to be repaid in time.
PCJ fails to repay in time and classifies as NPA.(Non Performing Asset)
To recover the amount, the main lender SBI out of consortium initiates proceedings under insolvency act.
PCJ management goes into OTS (One Time Settlement) with certain conditions of haircut to the tune of 20% of the principal and more hair cut/waiver certain portion of interest.
Apart from this development, PCJ also goes into converting debt into equity (swap) to be issued to the lenders as against their claim of loan amount.
It’s a win win condition for both the PCJ and lenders…
And now, both the sales/topline/revenue is on track and settlement of debt, and interest burden gets reduced substantially, there is a silver lining to the dark cloud for those whose money have been trapped being investors…
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