Jubilant Chairman Cleared of Charges in Sexual Assault Case
New Delhi: Jubilant Pharmova Limited has officially announced that the allegations made against its Chairman, Shyam S Bhartia have been found to be “baseless and false,” as per a closure report submitted by the police and accepted by the court.
The update was communicated to the stock exchanges, BSE and NSE, on April 20, 2025, under Regulation 30(11) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The development follows a disclosure made by the company on February 25, 2025, regarding certain media reports on the registration of a First Information Report (FIR) concerning allegations against Bhartia. The company had previously clarified that the case did not have any material impact on its business operations.
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In its recent update, the company stated, “The Police officials have filed a Closure Report as the allegations against him have been found to be baseless and false. The Hon’ble Court after examining the Closure Report and the statements given by the Complainant has passed an Order accepting the said Closure Report. Therefore, there is no case against Mr. Shyam S. Bhartia.”
As per a media report in The Indian Express, allegations of rape and money fraud were levelled against Bhartia and one of his associates by a Bollywood actress.
Lately, the latest order effectively clears Bhartia of all charges. The company also reiterated that Bhartia, in his personal capacity, had earlier denied all allegations, terming them as, “Baseless, false and disparaging.”
The company emphasized that these proceedings had no material impact on Jubilant Pharmova’s operations.