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The latest update is out from JBF Industries Limited ( (IN:JBFIND) ).
JBF Industries Limited, which is undergoing a Corporate Insolvency Resolution Process, has seen its restructuring efforts face a setback after the sole resolution plan submitted for the company was not accepted by the insolvency court. The company remains under the supervision of a Resolution Professional, and its status is closely watched by stakeholders given its listings on both BSE and NSE.
The National Company Law Tribunal’s Ahmedabad Bench has orally rejected the single resolution plan filed by the Resolution Professional under Section 31 of the Insolvency and Bankruptcy Code and has referred the matter back to the Committee of Creditors. This decision implies that creditors will need to reassess options for JBF Industries’ revival or other outcomes, potentially prolonging the insolvency process and adding uncertainty for lenders and investors.
More about JBF Industries Limited
JBF Industries Limited is an Indian company currently under Corporate Insolvency Resolution Process (CIRP), operating under the oversight of a Resolution Professional as per the Insolvency and Bankruptcy Code framework. Its securities are listed on BSE and the National Stock Exchange of India, making developments in its insolvency proceedings material for public shareholders and creditors.
Current Market Cap: 361.9M INR
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