Archive · 22 Dec 2025
Kajaria Ceramics CFO Fired for ₹20 Crore Fraud
Kajaria Ceramics, a company that makes bathroom products, found out that their CFO, Dilip Kumar Maliwal, might have stolen ₹20 crore over two years.
This happened in a company they fully own called Kerovit Global Private Limited.
The CFO was fired immediately, and the company filed a police report.
The CFO had been with the company for 8 years and had created a fake vendor to steal the money.
The company is not sure if they will get all the money back, but they are working on making sure this doesn't happen again in the future.
Kajaria Ceramics filed a police complaint against CFO Dilip Kumar Maliwal for alleged fraud.
The fraud involved embezzlement of ₹20 crore over two years in a subsidiary, Kerovit Global Private Limited.
The company terminated Maliwal immediately upon discovering the fraud.
Complaints were filed with the Deputy Commissioner of Police and the Station House Officer.
Kajaria Ceramics plans to implement safeguards to prevent future incidents and may undergo a forensic audit.
- Who
- Kajaria Ceramics and its CFO Dilip Kumar Maliwal
- What
- Alleged fraud and embezzlement of ₹20 crore
- When
- Over the past two years, complaint filed on 18 December 2025
- Where
- New Delhi, India
- Why
- To recover funds and prevent future incidents
- Company
- Kajaria Ceramics
- Alleged Fraud Amount
- ₹20 crore
- Duration of Fraud
- 2 years
- Subsidiary Involved
- Kerovit Global Private Limited
- Date of Complaint
- 18 December 2025
- Action Taken
- Filed police complaint, terminated CFO
- CFO Tenure
- 8 years
- Recovery Status
- ₹60 lakh returned, full recovery unlikely
Sources
Kajaria Bathware files EoW complaint against CFO Dilip Maliwal for alleged ₹20 crore fraud over 2 years in subsidiary
Kajaria Ceramics terminates CFO of subsidiary for ₹20 crore fraud
