Jindal Poly Films Withdraws Demerger Application

Jindal Poly Films Ltd's Board of Directors, in a meeting on April 10, 2026, approved the withdrawal of its application filed with BSE and NSE. This application, made under Regulation 37 of SEBI Listing Regulations, sought no-objection letters for a proposed Scheme of Arrangement. The scheme involved the demerger of the company's Non-Woven Fabrics business division into Global Nonwovens Limited. The decision to withdraw was driven by procedural delays, geopolitical instability, evolving business and market dynamics, and the significant time, cost, and regulatory hurdles associated with pursuing the scheme. The company stated that this withdrawal solely relates to the application and does not impact its financial position or results, as the scheme had not yet been filed with the National Company Law Tribunal. Jindal Poly Films will evaluate the appropriate course of action for the scheme in due course.