SEBI Warns J&K Bank Over Delay in CEO Appointment Disclosure

The Securities and Exchange Board of India (SEBI) issued a warning to J&K Bank for delaying the announcement of its new Managing Director and CEO, Amitava Chatterjee, by 1 hour and 40 minutes beyond the 24-hour disclosure deadline. 

The bank received approval from the RBI on December 24, 2024, at 3:14 PM but disclosed it on December 25, a trading holiday. As per SEBI rules, companies must announce significant developments within 24 hours to ensure transparency and prevent market manipulation. 

SEBI emphasized that future violations could lead to enforcement actions under the SEBI Act, urging stricter compliance to protect market integrity.