'Baseless, false': Jubilant FoodWorks responds to reports of FIR against chairman

Jubilant FoodWorks Chairman Shyam Sundar Bhartia has dismissed allegations against him as "baseless, false," as per a company statement issued in response to reports of an FIR against him.

The company clarified that the Bombay High Court has directed the police to investigate the case on its own merits but has not passed any judgment on the validity of the complaint. 

"The allegations have been made with a clear malafide intent," Bhartia stated.

The company further affirmed Bhartia’s commitment to cooperating with investigating agencies whenever required. It refrained from providing additional comments, citing the ongoing nature of the probe. "As the investigation in this matter is ongoing, no additional comments can be made at this stage. Shyam S. Bhartia has further requested that the privacy of the family be respected," the statement read.

Jubilant FoodWorks also assured stakeholders that these developments would not impact the company’s operations. 

"The said news reports have no material impact on the company or its operations," it stated.

Jubilant FoodWorks' stock remained stable, trading at ₹679.65, up 0.73% from the previous close. The company, which operates major food chains like Domino’s Pizza and Dunkin’ Donuts in India, has witnessed mixed performance recently.

The stock reached a 52-week high of ₹796.75 and a low of ₹421.05. Over the past month, Jubilant FoodWorks has seen a marginal decline of 0.26%, still faring better than the broader Sensex index, which dropped 2.17% over the same period.