Kajaria Ceramics CFO Accused of ₹20 Cr Fraud; Shares in Focus

• Kajaria Ceramics Ltd. shares are in focus after its subsidiary's CFO, Dilip Kumar Maliwal, was accused of ₹20 crore fraud.
• Maliwal, CFO of Kajaria Bathware Pvt. Ltd. (KBPL), allegedly embezzled funds from Kerovit Global Pvt. Ltd. (KGPL) over two years.
• A police complaint was filed on December 18, 2025, with Delhi Police, and Maliwal's services were terminated immediately.
• Kajaria Ceramics will hold an investors' conference call today, Monday, December 22, at 11 AM to discuss the matter.
• The company plans to strengthen corporate governance and internal controls to prevent future incidents.

Why It Matters: Kajaria Ceramics faces ₹20 crore fraud by subsidiary CFO; shares to react, internal controls under review.