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“Owing to personal reasons, I hereby tender my resignation from the post of President (India) at JK Tyre & Industries Ltd. Kindly accept my resignation. As per the terms of employment, I will serve the notice period of 90 days. Kindly let me know the next steps and process to be followed,” Kathuria said in his resignation letter.
Kathuria’s resignation, attributed to personal reasons, was communicated to both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), in compliance with SEBI’s Listing Obligations and Disclosure Requirements Regulations.
The resignation comes after a complainant filed a First Information Report (FIR) against him. We learn that the Mumbai police has opened an investigation following the allegations in the FIR, invoking sections of the BNS that deal with in the FIR which include that he gave false promises of marriage, deceived a woman into believing she is legally married to him, and marrying again while a spouse is still alive.
As of 2 pm IST, shares of JK Tyre & Industries were trading 1.9% lower at ₹277.45. The stock had opened at a price of ₹289.35 on the BSE.
Before joining JK Tyre, Kathuria held various leadership roles at Ashok Leyland, including Chief Operating Officer, where he oversaw the Medium and Heavy Commercial Vehicle business. His leadership contributed to the company’s achievement of 150,000 vehicle sales in 2017 and winning the prestigious Deming Prize for two consecutive years. He also led the development of BS VI-compliant Modular Range Trucks.
Kathuria’s career includes significant roles at Tata Motors and Tata Daewoo in Korea. He served as Head of the World Truck Factory at Tata Motors and spearheaded the launch of the “Prima” truck range in India and Korea.
He has also served on the boards of several subsidiaries of Ashok Leyland and was actively involved in industry bodies, including the Confederation of Indian Industry (CII), the Society of Indian Automobile Manufacturers (SIAM), and the Automotive Component Manufacturers Association of India (ACMA).
JK Tyre, one of India’s leading tyre manufacturers, was founded in 1951 and operates 12 manufacturing plants in India and Mexico, with an annual production capacity of over 35 million tyres. The company is known for its innovation-driven approach and significant presence in both domestic and international markets.
